Sanofi signs consumer healthcare joint venture with Minsheng in China
Sanofi-aventis is to set up a consumer healthcare joint venture with Minsheng Pharmaceutical Co in China that will focus on vitamins and mineral supplements.
Sanofi-aventis is to set up a consumer healthcare joint venture with Minsheng Pharmaceutical Co in China that will focus on vitamins and mineral supplements.
In 2008, the consumer healthcare market in China was estimated to approach Euro 7bn. It is forecasted to record double-digit growth over the next five years.
Sanofi and Minsheng have been working together for 10 years.
Minsheng has a strong presence in the consumer healthcare sector in China with its flagship multivitamin brand, 21 Super-Vita.
Zhu Fujiang, Minsheng's chairman, said he hoped the new venture would revitalise the company's consumer healthcare business so that its products would reach more consumers.
"We also hope that the new venture will serve as a platform for us to develop more health products in order to contribute to the local economy and meet consumer needs," he added.
Sanofi-aventis currently employs 3,500 people in 200 cities across China.
It has three manufacturing sites in Beijing, Hangzhou and Shenzhen. In 2007, the company invested US$94m in a high-tech manufacturing facility in Shenzhen to produce Vaxigrip for the prevention of seasonal influenza.
In April 2009, Sanofi increased its investment by US$90m to extend its manufacturing facility in Beijing and to build pre-filled injection production lines for Lantus (insulin glargine) SoloSTAR.
In the same month, the firm announced an investment of â"šÂ¬44m to relocate its current manufacturing facility from Hangzhou and build a new manufacturing site in Binjiang New Development Zone.
