2009-3-13 Shijiazhuang
China's largest wheelchair manufacturer Hubang (Lutai) Medical Appliances, a subsidiary of Shanghai Hubang Medical Appliances, has been put into production in the Lutai Development Zone, Hebei province. The factory has an annual capacity of 330,000 wheelchairs, with an initial investment of RMB50 million (US$7.3 million). Sales are expected to reach RMB200 million (US$29 million) a year.
2009-03-10 Beijing
Beijing SL Pharmaceutical plans to invest RMB10.2 million (approx US$1.5 million) to establish a joint venture, in which the company will hold a 51 percent stake. With registered capital of RMB20 million (approx US$2.9 million), the new joint venture is expected to become a leading Chinese manufacturer of rumor diagnosis and biomedical products, providing Beijing SL Pharmaceutical with an entry into the oncology market.
2009-03-06 Shenyang
Medical appliances made by Neusoft, a leading medical appliances manufacturer in China, has developed more than 50 kinds of products which are marketed across the country, with an average annual growth rate of 70 percent in sales. Its CT products take the second largest market share in China. By the end of 2008, the company's products have been exported to 55 countries and territories worldwide.
2009-03-03 Nanchang
China’s Renhe Pharmacy, shares of which are traded on the Shenzhen stock exchange under the ticker symbol 000650, announced on 25 February that the company will acquire 100 per cent interests in Jiangxi Yaodu Renhe Pharmaceutical and Jiangxi Kangmei Medicine and Healthcare from its parent Renhe Group for a combined RMB 615.7 million, or approximately US$89.9 million. The transaction is still subject to approval from shareholders of Renhe Pharmacy.
2009-01-09 Beijing
China, which has experienced double-digit average annual growth over the last few years, is expected to overtake Japan to become the world’s second largest consumer of pharmaceutical products this year. Given the weakness of pharmaceutical markets in Europe and the United States as a result of the financial turmoil, Japan’s pharmaceutical heavyweights are aggressively expanding into the Chinese market. Astellas, for example, expects to increase its sales in the country to 10 billion yen, or approximately US$108 million, in 2009 from 9 billion yen, or approximately US$97 million, last year.
2009-01-09 Beijing
China witnessed strong growth in exports in the first eleven months of 2008. Exports of medical diagnosis and treatment equipment, which account for almost a third of the total medical instrument exports in the country, increased 31.4 percent year-on-year to US$3.2 billion, with the U.S. being the largest export destination.
2008-12-22 Beijing
Fosun Pharmaceuticals (Group) Corporation, the parent company of Fosun Industrial Co., Limited, recently announced that Fosun Industrial has acquired 2,900,000 additional Tongjitang Chinese Medicines Company ADSs, accounting for approximately 8.6 percent of Tongjitang’s outstanding common shares, as of the closing the New York Stock Exchange on 8 December 2008. Fosun Pharmaceuticals indicated that it will continue to increase its holding in Tongjitang.
2008-12-18 Chongqing
Tong Jun Ge Co., Ltd, a biopharmaceutical company based in Chongqing, China, recently announced the company has entered into an agreement with Sichuan Mianyang Pharmaceutical. According to the terms of the agreement, Tong Jun Ge will acquire 15.35 million shares of Sichuan Tiancheng Pharmaceutical from Sichuan Mianyang Pharmaceutical for RMB70 million (approximately US$10 million). Tong Jun Ge said through the acquisition, the company will be able to expand its operations while integrating resources.
2008-12-16 Beijing
According to a research report published by PricewaterhouseCoopers, China will replace India as the most popular pharmaceutical outsourcing location by 2010. Although India now outperforms China in terms of pharmaceutical exports by value, China has built its position as a leading API exporter. The report shows that China’s API exports are expected to increase from US$5.6 billion in 2007 to US$9.9 billion in 2010.
2008-11-28 Jinan
Despite deteriorating global financial crisis, the pharmaceutical enterprises in Shandong maintained its growth momentum. It is expected that Shandong will set up 33 large pharmaceutical enterprises that have an annual sales revenue of over RMB1 billion by the end of 2010. In addition, Qilu Pharmaceutical, Lunan Pharmaceutical and Weigao Group, the three major pharmaceutical enterprises in Shandong, are positioned to realize sales revenue of over RMB10 billion within three years, according to a principle of Shandong Economic and Trade Committee.
