Guangzhou Pharmaceutical announces co-operation with Industrial Park

Mainland Chinese pharmaceutical company Guangzhou Pharmaceutical Holdings Ltd. signed a framework agreement with the operator of Guangdong-Macau Traditional Chinese Medicine Science and Technology Industrial Park in Hengqin on Monday to mark co-operation initiatives on marketing Chinese medical products and product registration.
Guangdong-Macau Traditional Chinese Medicine Science and Technology Industrial Park, an MSAR Government-backed project in Hengqin, is based on the Guangdong-Macao Co-operation Framework Agreement signed in March 2011, for which the MSAR Government founded a joint venture with Zhuhai Da Hengqin Investment Co. Ltd. to construct, operate and manage the park.
Business Daily understands from Guangdong-Macau Traditional Chinese Medicine Technology Industrial Park Development Co. Ltd. that the framework agreement has yet to entail any actual investment committed by Guangzhou Pharmaceutical in the park.
The agreement signals the direction for both Guangzhou Pharmaceutical and the park to co-operate on the international registration of Chinese medicinal products and the promotion of Chinese medical culture overseas.
On Monday, Guangzhou Pharmaceutical also reached a strategic agreement with the University of Macau to co-operate on scientific research and exchange of medical professionals. The University of Macau houses a State Key Laboratory of Quality Research in Chinese Medicine.
International opportunities
In a statement released yesterday, Guangdong-Macau Traditional Chinese Medicine Technology Industrial Park Development Co. Ltd. said it believed the co-operation with Guangzhou Pharmaceutical would attract more smaller medical firms to establish business in the industrial park.
The park operator also stated that its connections with the Portuguese-speaking countries and Association of Southeast Asian Nations could provide a platform for introducing Guangzhou Pharmaceutical’s products to the international market.
About 30 companies have registered interest in operating in the park but only 10 are currently discussing contract terms with the government-backed joint venture to settle in the park, Business Daily understands from the park operator.
The park is expected to be operational in the first half of 2017 with a headquarters building and testing and research centre completed. The second phase of the park, which will house clinics providing Chinese medicinal and healthcare services, as well as a training hub for Chinese medical practice, is expected to be completed in 2020, Guangdong-Macau Traditional Chinese Medicine Technology Industrial Park Development Co.
Ltd.’s president Yuki Lu Hong told media on June 30.