China Fast Becoming World’s Pharmaceutical Formulation Factory
This article was originally published in PharmAsia News
Zhejiang Huahai Pharmaceutical will cooperate with U.S. firm Enspire and invest $10 million to set up a new overseas company to develop, produce and sell soft capsules. Last July, Huahai gained U.S. FDA tentative approval to launch its anti-AIDS drug nevirapine in the U.S. in 2012, a first for a pharmaceutical company from China. In addition, it is China's only enterprise to receive FDA authorization for its solid pharmaceutical formulation workshop. Experts observe that currently fewer than 10 pharmaceutical firms in China have gained European and American certification. More than 20 companies are in the application stage and may receive licenses over the next two years. China's low-cost advantage attracts outsourcing by pharmaceutical MNCs and the country is poised to be the world's pharmaceutical formulation factory
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