France-based Pharmaceutical giant Sanofi-aventis will continue to look for partnership opportunities in China after it launched a joint venture with Minsheng Pharmaceutical, the company s top management said Tuesday.
"The deal with Minsheng Pharmaceutical is expected to receive regulatory approval within 2010, and we are still seeking other cooperation opportunities," said Thomas Kelly, vice president of Sanofi-aventis Greater China.
On February 3, the French company signed agreements with Minsheng Pharmaceutical Co Ltd to form a new consumer healthcare joint venture. Subject to certain conditions and regulatory approvals, Sanofi-aventis is to obtain a majority equity stake in the venture.The Sanofi-aventis-Minsheng venture will focus primarily on vitamins and mineral supplements (VMS), the largest consumer healthcare segment in China, where Minsheng has established a strong presence with its flagship multivitamin brand of 21 Super-Vita.
Meanwhile, the company also strengthened its diabetes research as China faces a growing epidemic of diabetes, with the second-largest diabetic population in the world. Sanofi-aventis joined with the Chinese Diabetes Society of the Chinese Medical Association on Tuesday to launch a landmark study on Type 2 diabetes in China.
