Three Chinese pharmaceutical companies are merging in East China'sZhejiang Province, to gain a competitive edge in the local market. The Xinchang Pharmaceutical Shareholding Company, which ranks 18th among China's 50 most profitable pharmaceutical firms, merged with two other unnamed firms to form the Zhejiang Pharmaceutical Shareholding Company, which has over 3,300 staff, and is expected to achieve sales of 1 billion renminbi ($120.1 million) this year. The new firm hopes to enter the top 10 ranking in 1998, with sales of 26 billion renminbi by 2010.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze