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 16/10/2009
[Industry news]
Mitsibishi, Medipal ally with Sinopharm
Japanese trader Mitsubishi, pharma retailer Medipal have teamed up with Shanghai-based Chinese pharma distributor Sinopharm to enter China
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Japanese trader Mitsubishi, pharma retailer Medipal have teamed up with Shanghai-based Chinese pharma distributor Sinopharm to enter China.
To begin this alliance, Mitsubishi and Medipal have purchased shares of Sinopharm Group Beijing HuaHong from Sinopharm Group and Beijing ChangXinYiDa Investment Consulting and undertaken an increased issuance of Huahong stock. Through this joint venture investment, Mitsubishi and Medipal plan to make inroads into China\'s pharmaceutical distribution and wholesales business.
In September 2005, Mitsubishi and Medipal signed a memorandum for a comprehensive strategic alliance in the healthcare business. The companies have since been jointly developing operational support for hospitals and prescription drug store chains in Japan. Envisioning further expansion in this domain and its profit base, the partners have been looking more and more seriously into future business development in the rapidly growing Chinese market.
Over the last five years, the Chinese pharmaceutical industry has continued to achieve double-digit growth, and is currently a $4 trillion market. With increasing deregulations enticing further foreign investment, this market is expected to grow even more from hereon. |
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