On May 6, 2009, Axellia Hong Kong Ltd. officially signed a joint venture contract with HISUN Pharmaceutical. According to the contract, the new company will have a total investment of USD 49 million, and a registered capital of USD 25 million. Axellia Hong Kong Ltd. and HISUN Pharmaceutical will respectively hold 51% and 49% of the shares in Axellia (Taizhou) Pharmaceutical Co., Ltd. As a result, the company was converted from a wholly foreign-owned enterprise into a Sino-foreign joint venture.
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