Updated on 7 August 2013
Komtur-Solin Pharma: The new JV formed between Komtur Pharma and HengHeKangJian Pharma
Singapore: Komtur Pharmaceuticals, a German specialist in clinical trial sourcing, has invested in Chinese firm HengHeKangJian Pharmaceutical through its Shanghai entity, Komtur Pharmaceutical Technology Services.
The joint venture (JV) company will operate under Komtur-Solin Pharmaceuticals. All shareholders have agreed to an investment plan for a new and state-of-the-art distribution center, fully complying with increasingly stringent and newly launched China FDA regulations and international GSP/GDP standards. The construction for the new warehousing and logistic facility will start in late 2013 in Beijing.
With the new joint venture, Komtur Pharmaceuticals is committed to expand their joint business activities, introducing a more diversified service portfolio. The firm also plans to focus on clinical trial sourcing and clinical distribution, commercial distribution of finished pharmaceuticals and medical devices, as well as to make a move into pharmaceutical labelling and re-packaging.
Mr Jan Oesterreich, GM and regional director, APAC, Komtur Pharma, said that, "This represents a major milestone for Komtur Pharmaceuticals and we are now able to bundle our forces and strengthen our footprint in the growing Chinese market for the benefit of our clients. It is our goal to deliver the same first class service for which Komtur has been known during more than 50 years operating in Europe."
Mr Oesterreich, who will also serve in the executive board of the new company, further said, "The consolidation policy of the Chinese government, namely CFDA and the country's National Development & Reform Commission (NDRC) is clearly speeding up the modernization of the pharmaceutical distribution and manufacturing industry here in the country and we are supporting this initiative and regard China as the most important market for pharmaceutical development in Asia.
"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. We will also further expand our infrastructure, not only here in the country but also in the APAC region in the near future," he added.