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Centuries-Old Firm Adapts Traditional Chinese Medicine to Modern World
With ancient secret recipes combining high-tech and modern business management, 330-year-old Tongrentang, China's leading producer of traditional Chinese medicine, aims to become the world's natural drug magnate in the 21st century.
The company, a royal drug firm 330 years ago, plans to increase its total sales value to 10 billion yuan (1.2 billion US dollars) within ten years and become a multinational pharmaceutical producer, said Mei Qun, general manager of the China Beijing Tongrentang Groups on Monday.
He made the announcement at a forum on traditional Chinese medicine, which is part of the ongoing Beijing International Hi-Tech Industries Week.
"We are doing new research on the ancient recipes and developing new products to cater to the world market," said Li Zhimeng, chief engineer of Tongrentang.
The large pills, bitter decoctions of herbal medicines and other traditional Chinese medicines are being replaced by new products such as capsules, tablets and oral liquids, said Li.
The firm plans to develop more patent medicines and injections for the treatment of cancer, hepatitis and diabetes in the future, according to Li.
He attributes Tongrentang's long-lasting prosperity to its emphasis on quality. However lacking a standard inspection method of the drugs is a major factor restricting traditional Chinese medicine from entering international markets.
Researchers at Tongrentang introduced chromatographic analysis technology to map out the components of the best quality medicines. And production of medicines must be in accordance with the maps.
"Each medicine has a map which is as unique as a human fingerprint. So far, this technology is the best way to standardize the quality of traditional Chinese medicine," said Li.
Molecular biotechnology will be used to discover the effective components in mineral medicines, and to remove the heavy metal components in traditional medicines, he said.
In order to protect endangered animals and plants, Tongrentang is looking for substitutes for musk, rhinoceros horn, tiger bone and liquorice, which have been used in traditional Chinese medicines. On the other hand, the firm will invest heavily in setting up herb planting centers.
Li said that Tongrentang is no longer a workshop with a pungent drug smell and dust. Instead, the whole production process is operated by computer.
"We will establish 100 chain stores all over China within three years to compete with international pharmaceutical companies,"
said Mei Qun.
Ranking first among China's 50 largest traditional Chinese medicine producers, Tongrentang currently produces over 800 varieties of medicines, and its total sales value last year exceeded 2.5 billion yuan.
The export value of Tongrentang last year increased nearly one quarter compared with the previous year. On the basis of the enlarging market in Southeast Asia, the company will strengthen development in the markets of Europe and the United States.
Tongrentang has set up joint ventures in Malaysia, Australia, Britain and other countries and regions.
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