Sihuan Pharmaceutical Holds Groundbreaking Ceremony for New Production and R&D Centre in Zhangwan, Beijing
Total investment of the project amounted to RMB700 million
Expects to put on stream in August 2013
HONG KONG, Dec. 11, 2011 /PRNewswire-Asia/ -- Sihuan Pharmaceutical Holdings Group Ltd. (HKEx: 0460) ("Sihuan Pharmaceutical" or the "Company"), a leading pharmaceutical company and the largest cardio-cerebral vascular drug franchise in China by market share, held a groundbreaking ceremony for its new production and R&D centre in the Zhangwan Development Area, Tongzhou District, Beijing. Guests in attendance included Mr. Wang Yunfeng, Secretary of Tongzhou District as well as and various government officials of Tongzhou District.
Sihuan Pharmaceutical has an existing chemical medicine production plant in the Tongzhou District of Beijing. Located in the "Zhangwan Development Zone" of Tongzhou District, the new production and R&D centre will occupy an area of 175 acres. The centre will be built in phases, with the first phase comprising production lines with an annual capacity of 300 million vials of small volume liquid for injection, 20 million vials of lyophilised powder for injection and 20 million vials of sterile powder for injection, which will further enhance Company's chemical medicine production capacity. Production is expected to commence in August 2013, and all facilities will comply with the new Chinese Good Manufacturing Practice (GMP) standards. Selected production lines will also conform with US Food and Drug Administration (FDA) standards. Furthermore, the Company plans to build a new R&D drug centre and an office building with a total area of 15,000 sq.m. The total investment of the project is RMB700 million, which will be funded by internal resources.
Dr. Che Fengsheng, Chairman and CEO of the Company, said, "The new production plant and R&D centre will further strengthen our production capacity and R&D capabilities and will facilitate the rapid expansion of our business amid growing market demand. To ensure that our products are of the highest quality and conform to the new GMP requirements, we are also upgrading our biological medicine and traditional Chinese medicine production plant in Jilin. Our API production plant in Langfang, Hebei, commenced production in the first half of 2011. With all of these plans in place, Sihuan Pharmaceutical is set for the next level of growth."
About Sihuan Pharmaceutical Holdings Group Ltd.
Founded in 2001, Sihuan Pharmaceutical Holdings Group Ltd. is a leading pharmaceutical company and the largest cardio-cerebral vascular drug franchise in China by market share. The success of the Group can be attributed to its differentiated and proven sales and marketing model, diversified portfolio of market leading drugs, extensive nationwide distribution network and strong research and development capabilities. The sales of products cover close to 10,000 hospitals through over 2,000 distributors in all 31 provinces, autonomous regions and cities throughout China. The company currently sells 87 products encompassing the top five medical therapeutic areas in China: cardiovascular system, anti-infective, metabolism, oncology and nervous system. Their major products such as Kelinao, Anjieli, Chuanqing, Qu'Ao and Aogan are widely used in the treatment of various cardio-cerebral vascular diseases.
SOURCE Sihuan Pharmaceutical Holdings Group Ltd.