Zhejiang Hisun Pharmaceutical Co, Ltd., (“Hisun”), announced
yesterday that it has entered into an agreement with Alpharma,
Inc., a global specialty pharmaceutical company, (“Alpharma”)
regarding the active pharmaceutical ingredient Vancomycin,
the treatment of choice for severe gram positive hospital
infections. Alpharma is one of the world’s leading suppliers
of Vancomycin, which is currently manufactured at Alpharma
sites in Copenhagen, Denmark and Budapest, Hungary.
Under the agreement, Alpharma would initially purchase Vancomycin
from Hisun and, after obtaining the required approvals of
provincial and local regulatory authorities in the People’s
Republic of China, begin producing Vancomycin at Hisun’s manufacturing
site in China. Hisun would perform certain services in support
of Alpharma’s Vancomycin operation at Hisun’s manufacturing
site. In addition, Hisun would construct a new, expanded Vancomycin
manufacturing Vancomycin facility, which would be owned and
operated by Alpharma.
Hisun was established in 1956 and is one of China’s largest
manufacturers of active pharmaceutical ingredients (API’s).
Hisun produces a wide range of API’s and finished dosage formulations
for customers throughout North & South America, Europe, Asia,
and Australia. Hisun ranks among the top 20 pharmaceutical
companies in China as well as in the top 500 Chinese companies
overall.
Zhejiang Hisun Pharmaceutical Co. Ltd. June 9, 2006
|
