HISUN Pharmaceuticals and ShengZhao Pharmaceuticals jointly established a joint venture company to expand their international presence in the complex injectable drug field

On October 30th, HISUN Pharmaceuticals signed a cooperation agreement with ShengZhao Pharmaceuticals in Taizhou, Zhejiang. According to the agreement, HISUN Pharmaceuticals and ShengZhao Pharmaceuticals will jointly invest in establishing a joint venture company in the Jiaojiang District of Taizhou City, focusing on the field of complex injectable drugs. HISUN Pharmaceuticals plans to invest 495 million yuan for a 45% stake, while ShengZhao Pharmaceuticals plans to invest 605 million yuan for a 55% stake. The joint venture will primarily engage in the research and development, production, and commercialization of 11 complex injectable drug products. In addition, HISUN Pharmaceuticals will have the right of first cooperation for future related products from ShengZhao Pharmaceuticals