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Eddingpharm and FAES FARMA set up a joint venture in China08.06.2015

FAES FARMA and EDDINGPHARM (China)have signed rencently an agreement to create an equal joint venture for thecommercialization of the products of FAES FARMA in the Chinese market.

 

The project starts with fourproducts from FAES FARMA, which shall compete in a  market valued at 500million euros in their market segments. The products shall be manufactured inFAES FARMA plants and exported to China as finished products. Progressively,other FAES products will be incorporated, including those originated by itsR&D activity.

 

With a population of more than 1.350millionpeople, China is currently the world´s third largest pharmaceuticalmarket, with a value of 64 billion euros, accountingfor 7,7% of the globalpharma market. The average annual growth rate in the past few years has been12%, making China’s simultaneously a large and quickly growing market.

 

Mr. Ni Xin, Chairman and CEO ofEDDINGPHARM, commented, “This agreement is very important for our company, asthe joint venture with FAES FARMA allows us to add successful innovativeproducts from an esteemed European pharmaceutical Company.  We willimmediately leverage our experience in registration, promotion, andcommercialization in China to ensure the success of this project.

 

This agreement is a relevantmilestone for the internationalization of FAES FARMA, and particularly for itsdevelopment in Asia, which joins the regions of Africa and Latin America, whereFAES FARMA already has an active presence.

 

The President of FAES FARMA, Mr.Mariano Ucar, said, “With this strategic agreement, FAES FARMA enters the thirdlargest pharmaceutical market, soon to be the  second, with the bestpossible partner that has experience in promoting international products. We feel it is important to commercialize our products, made in Spain, in theChinese market.

 

 

AboutEddingpharm

 

Founded in 2001, Eddingpharm is afast growing specialty pharmaceutical company in the Chinese market, committedto actively introducing quality products into China's pharmaceutical market.The Company focuses on the development and promotion of pharmaceutical productsin four therapeutic areas: clinical nutrition, oncology, antibiotics andrespiratory system. Eddingpharm has established long-term cooperativerelationships with a number of multinational pharmaceutical companies andoverseas specialty pharmaceutical companies, and has built up a competitiveproduct portfolio and pipeline in the four major therapeutic areas. Eddingpharmrecently established its U.S. affiliate and set up a product development teamwith R&D capabilities in Los Angeles, CA, USA, to coordinate andcommunicate with leading global R&D institutions and explore opportunitiesfor introducing innovative pharmaceutical products in China. The Companycurrently employs over 700 people.

 

About FAESFARMA

 

FAES FARMA is a Spanish company witha global focus that researches, produces and markets pharmaceutical productsand raw materials. It exports to more than 60 countries. FAES FARMA aims formaximum pharmacological quality in its products, which translates intoeffective solutions for patients. Aside from the head office and R&D centrein Bilbao, the Vitoria laboratory in Lisbon, production plants in both cities,and the animal nutrition and health company INGASO FARM, FAES FARMA has 2subsidiaries and another 3 sales offices abroad, with presence in 45 countriesand employing more than 800 persons.