Huabei Pharmaceutical Faces Fund Shortage
This article was originally published in PharmAsia News
Since signing up as a strategic investor of Huabei Pharmaceutical more than two years ago, Holland DSM has yet to receive the National Development and Reform Commission's nod for the partnership. Without fund injection, Huabei Pharmaceutical faces difficulty in developing new products and its upcoming relocation urgently needs funds. The cash-strapped company hopes to get another investor and is negotiating with China National Offshore Oil Co. to set up a joint venture to develop biobutanol, a biofuel source. However, Huabei Pharmaceutical denied that it is seeking a strategic investor in CNOOC, but rather, a collaboration focusing on certain products. The oil company said only preliminary discussion has taken place to date. (Click here for more - Chinese Language)
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