Pingtan Straits Medicine and Health Industrial Park welcomes its first resident, Sino Universal Pharmaceutical Supply Center. Operation for the 5,500-square-meter warehouse starts once stocks arrive. Pingtan is the closest place on the mainland to the island of Taiwan as well as a free trade zone.

Satheeshkumar Sriharan talks with Li Wang (Right)

Pingtan enjoys more favorable customs policies. The exclusivity bound to the free trade zone adds a competitive edge that the company will take advantage of and is expected to bring along more players in the industry to Pingtan.

“The closed-loop service from product introduction to sales can be handled in the supply chain center, which leads the country,” Li Wang, chairman of Sino Universal Pharma Co., Ltd, said.

The landing of Sino Universal Pharma also attracted Satheeshkumar Sriharan, general manager (China) of Dr. Reddy’s Laboratories. Dr. Reddy is a U.S.-listed pharmaceutical company with operations in China covering therapeutic areas of oncology, diabetes, central nervous system diseases, and cardiovascular diseases.

“We entered the Chinese market in 2000 and brought in some Reddy products that had been approved in the United States and Europe to China and also filed for those produced locally. We have been in partnership with Sino Universe Pharma for nearly two years. We are responsible for the production of pharmaceuticals while Sino Universal Pharma takes charge of all business in China, including import, sales, and supply chain,” said Satheeshkumar Sriharan.

As the first company to settle in Pingtan Straits Medicine and Health Industrial Park , it only took two months from signing the contract to operation. The industrial park, invested by Fujian Pharmaceutical Group, covers an area of 66, 667 square meters and has a total construction area of 104,700 square meters. It functions as a modern large-scale pharmaceutical platform integrating services such as warehousing and logistics, production, testing, exhibition, trading, and financing and lays a sound foundation for the development of Pingtan’s health industry.

Pingtan’s geographical advantage and preferential policies give Sino Universal Pharma confidence. Li expressed that the R&D team will focus on developing innovative and generic drugs. Now, a pharmaceutical company from Taiwan has contacted Sino Universal Pharma to discuss potential cooperation, which strengthened his confidence in Pingtan.

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