- Menarini China becomes the first foreign pharmaceutical holding company established in Wuhan Biolake
Singapore, 6 November 2013 – Menarini Asia-Pacific, a member of the world’s largest Italian biopharmaceutical company, officially inaugurated the establishment of Menarini (China) Investment Co. Ltd. and the opening of its national headquarters on 29 October 2013 at the Wuhan National Bioindustry Base (“Wuhan Biolake”) in Hubei Province, China. The auspicious ceremony was attended by 160 guests and officiated by Mr. Wang Yong Gao, Deputy Secretary of Hubei Provincial Party Committee, Mr. Dan Chang Chun, Executive Vice Director, Wuhan East Lake National High Tech Development Zone. Special guests also included customers and partners of Menarini China who have supported our development in China through the years.
The establishment of Menarini China as the first foreign pharmaceutical holding company in Hubei Province was a key corporate milestone and signified a major leap for Menarini to demonstrate its faith and long-term commitment to the future of the China healthcare market.
For Menarini, selecting Biolake as the preferred partner to grow its business aspiration in China was a strategic choice that is expected to be a competitive advantage for Menarini in the years ahead. In his keynote speech, Ernest Wong, Chairman of the Board of Directors of Menarini Asia-Pacific, commented “We are committed to deepen our presence in China and to reach out to the differentiated market segments across the country. We will stay nimble and work hand in hand with the people of China to bring innovative products into the country so as to make a lasting contribution to the increasing standard of healthcare in China.”
Menarini is rapidly accelerating its growth in the Asia-Pacific region and its growth strategy would be incomplete without China being pivotal to its overall plan. John Graham, CEO of Menarini Asia-Pacific said, “As one of the fastest growing markets in the world, China’s healthcare industry will likely more than triple to US$900 billion by 2020, from US$275 billion in 2010.(*source: Global Management Consultancy – Bain & Co). The growth prospects are therefore very robust for the pharmaceutical industry. Menarini China will harness the advantage of Biolake to deliver innovative brands and technology from R&D and partnering to the China market that help cover important unmet needs of patients and consumers.
About Menarini Asia-Pacific
Menarini is the world’s largest Italian biopharmaceutical company with a heritage of over 127 years and nearly 17,000 employees in over 100 countries. Here in Asia-Pacific, Menarini’s vision is to be a leading provider of important healthcare brands to improve the lives of people in the region. Menarini Asia-Pacific operates across the entire commercial value chain, from regulatory approval and product launch to lifecycle management with a diverse portfolio of proprietary and partnered brands in key therapeutic fields, including Dermatology, Primary Care, Allergy/Respiratory, Cardiovascular, Oncology/Specialty Care, Men’s Health and Consumer Health.
For more information about Menarini Asia-Pacific, please visit www.menariniapac.com
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