Chinese, British Firms Jointly Invest $40 Million for Pharmaceutical Company in Tianjin

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Researched by Industrial Info Resources (Sugar Land, Texas)--The Chinese pharmaceutical company Tasly (Tianjin, China) and the renowned British company Co-operative Group (Manchester, United Kingdom) have jointly invested $ 40 million to build a pharmaceutical company in Tianjin. The company, Tianjin Tasly Saint Pharmaceutical Company Limited, will be in Beichen Scientific and Technological Park.

The joint venture has a registered capital of about $18 million and a total investment is expected to hit $40 million. to the company will cover pharmaceutical research and development, troche manufacturing, and sales and marketing of manufactured products on overseas market; provision of after-sale service, technical consultation, services and training; transference of technologies relevant to its own products; merchandising, and technology export and import.

The company is expected to go into production in 2009 with an annual capacity of 200 million troches and 200 million capsules. All of its products will be sold on European market. Once built, the company will become the first international pharmaceutical company in China to have gotten approval of the GMP, FDA and MHRA.

The Tasly Group, which focuses on pharmaceuticals, was founded in May 1994. Its products cover TCM, bio-medicines, chemical medicines, health-care products and functional food. By the end of 2006, the group’s assets totaled about $1 billion.

Tasly’s product portfolio is dominated by a modern TCM system, which consists of antivirus medicine, anti-flu medicine, cardiovascular medicine, cerebrovascular medicine, anti-tumor medicine, immune system medicine and digestive medicine. The best-sellers are the Cardiotonic Pill, Nourishing Blood &Cleaning Brain Granule and Chuanxinlian Lactone Dripping Pill. Cardiotonic Pill sales exceeded about $133 million for four years in a row.

Britain’s Cooperative Group was established in 1863 and is one of the world’s largest consumer cooperatives with a turnover of more than $18.2 billion. It employs about 87,500 employees and boasts 4,500 high street outlets in the United Kingdom. Its businesses include food stores, a bank, an insurance business, funeral branches, travel agents, pharmacies and farms. Its annual sales volume exceeds $ 15 billion.

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