MedMira Establishes Joint Venture in China
Deal links MedMira with one of China's leading and oldest pharmaceutical companies
MedMira Inc., the global market leader in rapid flow-through diagnostic technology announced that it has entered into a new strategic partnership with Tianhe Pharmaceutical Co., Ltd., established in 1952, one of the most successful pharmaceutical companies in China, and one of the country's Top 200 Companies in 2004. MedMira and Tianhe have formed a joint venture which will open new market verticals in China including over-the- counter (OTC) sales for MedMira's current and future rapid diagnostic products.
The joint venture signifies another step in MedMira's progression to a fully commercial company with increased global presence. The joint venture will see some production in China, while the majority of research and development and manufacturing will remain in Nova Scotia at MedMira's global headquarters, directly resulting in additional jobs in Nova Scotia, while allowing for faster approval of new products in China and speedier entrance into other Asian markets.
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