Yaneng Bio Enriches Fosun Pharma Diagnostic Products Lines

On Aug. 18, 2010, Shanghai Fosun Long March Medical Science Co., Ltd., the subsidiary of Fosun Pharma, entered an agreement with Yaneng Bio (Shenzhen) Co., Ltd. (hereafter referred to as Yaneng Bio). In this way, Shanghai Fosun Long March will hold 51% shares of Yaneng Bio through capital increasing and share transferring, which brings on fresh energy for the diagnostic business of Fosun Pharma.

As a result of above cooperation, Fosun Pharma will deliver supports to Yaneng Bio on capital and management as well as will afford supplementary to the diagnostic product lines for both parties. It will not only help Yaneng Bio to realize sustainable and healthy development, but also will upgrade the level of technology-enabled of diagnostic product lines of Fosun Pharma, so as to bring on fresh energy to the endogenous and epitaxial expansion for the Diagnostic Business Dept..

On the same day, Yao Fang, Vice Chairman & President of Fosun Pharma, Zhu Yaoyi, Vice President & General Manager of Diagnosis Business Unit. of Fosun Pharma, Shi Qingxia, Chairman of Hongkong Yaneng Investment Group, He Zhaojia, founder of Yaneng Bio, and Qu Jing, General Manager of Yaneng Bio, have presented on the signing ceremony.

Zhu Yaoyi said, the cooperation with Yaneng Bio filled up the blank of gene chip diagnostic technology to the diagnostic business of Fosun Pharma, and greatly upgraded the technical level of diagnostic business of Fosun Pharma, even further enriched the product lines of diagnosis business of Fosun Pharma, so that established the concrete foundation for approaching higher target of diagnostic business of Fosun Pharma.