TAIZHOU CITY, China (PRWEB) September 11, 2019
Zhejiang Jiuzhou Pharmaceutical Co., Ltd.“Jiuzhou Pharmaceutical, a world leading Active Pharmaceutical Ingredients (API) contract development and manufacturing organization (CDMO) today announced it has entered into a contractual commitment for the purchase of Suzhou Novartis Pharmaceutical Technology Ltd (SNPT), an API manufacturing facility in Changshu Economic Technology Development Zone, Suzhou, China.
Madam Lirong Hua, Chairman of the Board of Jiuzhou Pharmaceutical, commented, “By acquiring this manufacturing site in Suzhou, Jiuzhou Pharmaceutical can accelerate growth by adding new CDMO projects and develop new products for the market. It comes with an excellent manufacturing facility and a dedicated team of experts that will support us in delivering high-quality pharmaceuticals meeting or exceeding customer expectations and regulatory requirements.”
The SNPT site, is an established and reputable API manufacturing facility and provides a number of lifesaving medicines to patients around the world. As part of the agreement, the parties have committed to sign a long-term supply contract to guarantee continuous supply of products manufactured at SNPT. No impact on jobs is planned and Jiuzhou Pharmaceutical will invest in the site and pursue business development opportunities to optimize the utilization and expand the customer base.
“We look forward to a seamless transition for employees, patients, customers, partners and other stakeholders,” added Madam Hua. “We are impressed by the know-how at the SNPT plant and intend to leverage their expertise to develop new opportunities in the pharmaceutical market, in China and globally.”
The acquisition of the SNPT API manufacturing facility is subject to customary approval process of the competent authorities and will be completed by the end of 2019.
About Jiuzhou Pharmaceutical
Zhejiang Jiuzhou Pharmaceutical Co., Ltd, (Stock code 603456), was formed in 1998.
Jiuzhou Pharmaceutical is committed to the research & development, production, and sale of active pharmaceutical ingredients (APIs). In addition, the company offers one-stop CDMO services in Asia, Europe and North America through its Raybow Pharmaceutical division. Jiuzhou Pharmaceuticals has been honored with a number of industry and government accolades including “Top 100 in the Chinese Pharmaceutical Industry”, “National High-Tech Enterprise,“National Technology Innovation Demonstration Enterprises” and many other notable awards. The Company has a sterling track record with regulatory authorities including the FDA and EDQM and excellent compliance history of EHS. For more information on Jiuzhou, please visit our website.