Three international drug companies have announced strategic moves to strengthen their position in the booming Chinese health care market.
Sanofi-Aventis will spend $520 million to buy BMP Sunstone, a Chinese manufacturer of health care products such as children’s cough syrup and feminine hygiene products. Separately, the Swiss drug firm Nycomed will acquire a majority stake, reportedly worth $210 million, in Guangdong Techpool Bio-Pharma, a southern-China-based developer of biotech drugs. Meanwhile, Eli Lilly & Co. will establish a 100-scientist R&D lab in Shanghai to study diabetes in Chinese patients.
Sanofi CEO Christopher A. Viehbacher says that the Sunstone purchase will bring the firm “unique access to new, expanding distribution channels.” Whereas major foreign drug companies in China sell their products mostly in large cities, Sunstone has a particularly strong market presence in county hospitals and community clinics, Sanofi says.
Monday, November 15, 2010
Big Pharma Settles In China | Latest News | Chemical & Engineering News
via pubs.acs.org
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