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December 12, 2016

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Fosun Pharma seeks to grow through innovation

By Ding Yining | December 12, 2016, Monday | Print Edition

FOSUN Pharmaceutical Co, a unit of Shanghai-based private conglomerate Fosun Group Co, said at the weekend it would tap innovative products and cutting edge technology to expand.

Fosun Pharma, listed in Shanghai and Hong Kong, announced a US$100 million joint venture with California-based Intuitive Surgical to research, develop, manufacture and sell innovative, robotic-assisted catheter-based medical devices.

“Innovation is at the core of our future development and growth and we’ll actively seek acquisition targets and latest technology to support our future growth,” said Fosun Pharma Chairman Chen Qiyu.

Fosun Group Chairman Guo Guangchang emphasized that “healthcare service is the most important part of Fosun Group’s blueprint and we are expediting Fosun Pharma’s investment in research and development to represent the cutting-edge technology for precision medical treatment and diagnosis.”

The joint venture, with Intuitive Surgical holding 60 percent and Fosun Pharma taking the balance, would research and develop products for early-stage diagnosis and treatment of lung cancer.

“We hope to integrate the cutting-edge R&D capabilities of Intuitive Surgical with the resources of Fosun Pharma to offer services and a healthier lifestyle for patients,” Guo said.

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