Double-crane Pharmaceutical To Set Up Subsidiary In Liaoning
This article was originally published in PharmAsia News
Executive Summary
Beijing Double-crane Pharmaceutical has announced plans to invest RMB 100 million ($14.6 million) to set up a wholly-owned subsidiary named Liaoning Double-crane in Liaoning province, with plans to establish a medical transfusion product line. Present transfusion packaging firms in China's northeast region are small-scale operations producing glass bottles. Plastic transfusion bags are increasingly replacing glass, showing a huge development potential and opportunity for Double-crane. Meanwhile, the company will loan RMB 62.36 million ($9.10 million) to subsidiary Beijing Wanhui Double-crane Pharmaceutical to set up a U.S. FDA-cGMP-compliant solid pharmaceutical formulation base. The move marks the corporation's first concrete step into the American and European market. (Click here for more - Chinese Language)