Switzerland-based Alpex Pharma has signed a strategic cooperation agreement with the Chinese Pharma conglomerate Ban Loong Holdings.
Ban Loong's Chief Executive, Tang Ming recently visited Alpex Pharma to finalize and sign the partnership agreement with the Swiss company. The signing ceremony was attended by the President of Alpex Pharma, Kevin McKenzie, the CEO of Alpex Pharma, Shahbaz Ardalan, the Head of Research and Development, Gabriele Granata, and other prominent members.
Ban Loong is a Hong Kong-based organization whose principal shareholders include Yunnan Baiyao Group Co. Ltd, one of China's largest hybrid pharmaceutical and healthcare companies, and Shanghai Pharmaceuticals Group Co., which was the first company in China to get dual-listed by the Shanghai and Hong Kong Stock Exchanges.
Last year, Shanghai Pharmaceutical, a Global Fortune 500 company, brought in Yunnan Baiyao as a strategic investor through a non-public offering of shares to support the company's long-term business development, improve the industrial layout and enhance the company's overall strength.
Shanghai Pharma is not only actively engaged in the research, manufacturing and distribution of pharmaceutical products and traditional Chinese & chemical drugs, but it also offers logistics, warehousing and other value-added pharmaceutical supply chain and related support services. A few years ago, Shanghai Pharma acquired the US-based pharmaceutical distributor, Cardinal Health's China operations, making it the largest distributor for imported drugs in the country.
In 2020, both companies reported an increase in their profits. SPGC generated a revenue of approximately 192 billion yuan, indicating a steady growth over the past decade. Whereas Yunnan Baiyao, which manufactures wholesale and retail pharmaceutical products (mainly traditional Chinese medicine), reported its total annual revenue of over 32.7 billion yuan.
This partnership aims to capitalize on Ban Loong's Traditional Chinese Medicine research advances and Asian market access along with Alpex Pharma's product development capabilities, proprietary delivery technologies, Switzerland life-sciences innovation and high-quality Swiss-made products.
Additionally, Alpex Pharma and Ban Loong will leverage each country's innovative capabilities. After all, Switzerland ranks at the top of the list of the world's most innovative economies for the 11th consecutive year as per World Intellectual Property Organization, and China leads in life sciences innovation and other strategic sectors.
