British Medical Company Opens Subsidiary in ShanghaiConstruction on a 34-million-US-dollar pharmaceutical factory, jointly funded by British medical sciences company Nycomed Amersham and two Chinese firms, began recently in Shanghai.The Shanghai Nycomed Pharmaceutical Company, located in Shanghai's Zhangjiang High-Tech Industrial Park and scheduled for operation by the end of the year, is to produce five million bottles of contrast medium a year. Nycomed Amersham owns 80 percent of the joint venture, with the Zhangjiang High-Tech Industrial Park Development Co. Ltd. and the Shanghai Huaihai Pharmaceutical Factory owning 13 percent and 7 percent, respectively. Shanghai Nycomed products are to be sold in China and other Asian countries. Nycomed Amersham leads the world in contrast medium production, with annual sales of 1.3 billion pounds. |
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