Legendary Giant moves in interferon market
21/5/2003 18:04
Shi Yuzhu, a legendary Chinese entrepreneur dubbed the "giant", will
tap the interferon market.
His Shanghai Giant Bio-tech Co Ltd., the
producer of the hot-selling tonic "Nao Bai Jin" (brain platinum), yesterday
announced deals with Sichuan Huiyang Life Engineering Co Ltd to develop,
manufacture and sell interferon products for the prevention and cure of
respiratory viruses.
Giant will pay the 6-million-yuan (US$725,514)
investment in installments, according to today's eastday.com report.
So
far, Giant and Huiyang's cooperation is limited to interferon development, as
manufacturing and sales of medicine still need approval from the country's
medical authority, according to a Giant employee, who declined to identify
himself.
The recent global outbreak of SARS is partly responsible for
Giant's move into the interferon market, analysts pointed out, because the
demand for the product has risen.
They expected the competition in the
market to get fierce as some dozens of domestic companies are eyeing the
sector.
Jane Chen / Shanghai Daily news
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