Home » Business » Manufacturing
Deal seals drug JV in Hangzhou
By Ding Yining |
January 30, 2010, Saturday
|
Print Edition
Print Edition
SANOFI-AVENTIS yesterday signed an agreement to set up a joint venture in Zhejiang Province to expand its presence in China's consumer health market.
The new joint venture with Minsheng Pharmaceutical Co will enable the French drug maker to build a manufacturing plant in Hangzhou, capital of Zhejiang Province.
Sanofi-aventis will take the majority stake in the new joint venture, according to a statement by the company yesterday.
The firms, however, didn't reveal the investment amount in the joint venture.
"The new joint venture is a strategic move for us to consolidate our position in the consumer health care sector in world's second-largest over-the-counter market," said Hanspeter Spek, president for global operations at Sanofi-aventis.
For Minsheng Pharmaceutical, the new venture "will serve as a platform to develop more health products as well as expand the reach of our existing products," said Zhu Fujiang, its chairman.
The new venture will focus on manufacturing vitamins and mineral supplements as Minsheng Pharmaceutical is the patent holder of 21 Super-Vita, a multivitamin brand.
The new joint venture with Minsheng Pharmaceutical Co will enable the French drug maker to build a manufacturing plant in Hangzhou, capital of Zhejiang Province.
Sanofi-aventis will take the majority stake in the new joint venture, according to a statement by the company yesterday.
The firms, however, didn't reveal the investment amount in the joint venture.
"The new joint venture is a strategic move for us to consolidate our position in the consumer health care sector in world's second-largest over-the-counter market," said Hanspeter Spek, president for global operations at Sanofi-aventis.
For Minsheng Pharmaceutical, the new venture "will serve as a platform to develop more health products as well as expand the reach of our existing products," said Zhu Fujiang, its chairman.
The new venture will focus on manufacturing vitamins and mineral supplements as Minsheng Pharmaceutical is the patent holder of 21 Super-Vita, a multivitamin brand.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
