Sep. 6, 2011
Shanghai Fosun Pharmaceutical (Group) and the Lonza Group of Switzerland will form a generic drug JV with 100 million RMB ($15.6 million) in capital. According to the announcement made on September 7, 2011, the JV will take advantage of the strengths of each parent: Lonza in APIs and intermediates; Fosun in finishing and China distribution. The JV will be owned equally by the two partners. This JV, located in Zhangjiang High Tech Park, Shanghai, will develop medicines with both high technology barriers and urgent market needs in China. During the first phase of its operation, the R&D focus will be several therapeutic fields including oncology, infectious and cardiovascular diseases.