Chinese Medicine Brands Eye Hengqin
Pharmaceutical companies from Macau,
Taiwan and the US have set up a JV. They will invest up to HK$2 million to
create a ‘Made in Macau’ brand of Chinese medicine.
Local pharmaceutical factory
Unipharm Technology Pharmaceutical Factory Limited is to establish a joint
venture with two overseas pharmaceutical factories. The joint venture is
applying to join the Chinese Medicine Scientific Park in Hengqin New Area.
The joint company, which focuses on manufacturing Chinese medicines for tourists, is to invest HK$2 million in creating a ‘Made in Macau’ Chinese medicine brand. Unipharm Technology signed a cooperation contract earlier this week with Sun Ten Laboratories from the United States and Mayway Corporation from Taiwan.
The company will start its business at the beginning of next year. It submitted the application to join the park last month, local Chinese media Macau Daily News reported.
The chairman of the board of Unipharm Technology, Lau Mun Wah, said the company will focus on the local market as well as those markets in Southeast Asia in the early stages. Once the company gets approval from the park, a bigger factory will be built and broader markets opened.
Mr. Lau also said that Sun Ten’s factories in the United States will supervise the manufacturing of the medicines, while Unipharm Technology will supervise the post-production stage to create the local brand, according to Macau Daily.
The joint venture chose to establish its base in Macau because of the city’s geographic proximity to mainland China, Hong Kong and Taiwan, according to Mr. Lau. He also believes that professionals from local universities, such as the University of Macau, the Macau University of Science and Technology as well as Macao Polytechnic Institute will assist these developments and ‘cultivate local talent.’
Mayway Corp. and Sun Ten established branches in Macau last year following the government’s introduction on the future development of Chinese medicine in Macau in the United States. The two companies will import their own products to Macau, according to both parties.
The joint company, which focuses on manufacturing Chinese medicines for tourists, is to invest HK$2 million in creating a ‘Made in Macau’ Chinese medicine brand. Unipharm Technology signed a cooperation contract earlier this week with Sun Ten Laboratories from the United States and Mayway Corporation from Taiwan.
The company will start its business at the beginning of next year. It submitted the application to join the park last month, local Chinese media Macau Daily News reported.
The chairman of the board of Unipharm Technology, Lau Mun Wah, said the company will focus on the local market as well as those markets in Southeast Asia in the early stages. Once the company gets approval from the park, a bigger factory will be built and broader markets opened.
Mr. Lau also said that Sun Ten’s factories in the United States will supervise the manufacturing of the medicines, while Unipharm Technology will supervise the post-production stage to create the local brand, according to Macau Daily.
The joint venture chose to establish its base in Macau because of the city’s geographic proximity to mainland China, Hong Kong and Taiwan, according to Mr. Lau. He also believes that professionals from local universities, such as the University of Macau, the Macau University of Science and Technology as well as Macao Polytechnic Institute will assist these developments and ‘cultivate local talent.’
Mayway Corp. and Sun Ten established branches in Macau last year following the government’s introduction on the future development of Chinese medicine in Macau in the United States. The two companies will import their own products to Macau, according to both parties.
Source of the story is here.
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