Komtur Pharmaceuticals forms joint venture with HenHeKangJain China
Komtur Pharmaceuticals, a German specialist in clinical trial sourcing, is investing in Chinese HengHeKangJian Pharmaceutical Trading. The joint venture company will operate under Komtur-Solin Pharmaceuticals.
All shareholders also have agreed to an investment plan for a new distribution center, fully complying newly launched China FDA regulations and international GSP/GDP standards. The construction for the new warehousing and logistic facility will start late 2013 in Beijing.
Komtur Pharmaceuticals is committed to expand joint business activities, introducing a more diversified service portfolio with a focus on clinical trial sourcing and clinical distribution, commercial distribution of finished pharmaceuticals and medical devices and a move into pharmaceutical labeling and re-packaging.
“The consolidation policy of the Chinese government, namely CFDA and the country’s National Development & Reform Commission (NDRC) is speeding up the modernization of the pharmaceutical distribution and manufacturing industry and we are supporting this initiative and regard China as the most important market for pharmaceutical development in Asia,” said Jan Oesterreich, general manager of Komtur Pharmaceuticals Shanghai and regional director, Asia Pacific. “In 2012, more than 600 clinical trials have been registered by research companies in China with major international players relocating or newly introducing pharmaceutical research centers to China. There is an unmet demand, particularly in serving complex and specific needs of clinical trial sourcing, long-term comparator supplies, recall management and safety matters.
“With our new joint venture in Beijing, Komtur Pharmaceuticals will be the first and only international clinical trial sourcing specialist with a dedicated operation for the Chinese market,” said Oesterreich, also an executive board member of Komtur-Solin Pharmaceuticals. “We also will further expand our infrastructure, not only here in the country but also in the APAC region in the near future.”
The China market for pharmaceuticals, medical devices and clinical trial services is expected to see double-digit growth this year, and become the second largest drug market in the world by 2015.