| By By Liu Yuanyuan, Asia Manufacturing Pharma |
| Wednesday, 06 May 2009 |
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With headquarters in Paris, France, Sanofi-Aventis, one of the world’s leading pharmaceutical companies, recently announced a plan to invest RMB270 million (approx.US$39.7 billion) to build a new pharmaceutical packaging facility in Hangzhou Binjiang Hi-Tech Industry Development Zone through cooperation with the Hangzhou government and relocate its joint venture Hangzhou Sanofi-Aventis Minsheng Pharmaceutical.
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Christopher Viehbacher, CEO of Sanofi-Aventis, stated that the company plans to relocate Hangzhou Sanofi-Aventis Minsheng Pharmaceutical to better support the city’s urban planning.
The new facility, scheduled to be completed in 2012, will specialize in the production of pharmaceutical packaging materials and is expected to have an annual capacity of 160 million packages.
The facility will also be developed into Sanofi-Aventis’ |
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pharmaceutical export and processing center in Asia.
In addition, the pharmaceutical maker will help Hangzhou in the development of new chemical drugs and biopharmaceuticals by taking full advantage of its brand, technology, talent and resources.
The medical reform scheme put in place by the Chinese government will provide an important growth opportunity for Sanofi-Aventis as the company is seeking to transform its business model by reducing its dependence on the sale of its best-selling pharmaceuticals in western countries, according to Christopher Viehbacher.
He also said in an interview that Sanofi-Aventis hopes to increase its cooperation with Chinese universities and government research institutions as China is now encouraging the research and development of new medicines.
He has shown strong interest in possible deals with Chinese drug |
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makers, given that Sanofi-Aventis has placed a high premium on the Chinese pharmaceutical market.
Based on the assumption that generic drugs that are seen as rivals to Sanofi-Aventis’ Lovenox, an anticoagulant therapy indicated for the prevention of deep vein thrombosis, remain unavailable in the US as well as a continued stable US/RMB exchange rate, the company expects its earnings per share to rise by at least 7 percent in 2009, according to Viehbacher.
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