Norwegian pharmaceutical company Hafslund Nycomed is setting up a long-term joint venture in China with the Shanghai Huai Hai Pharmaceutical Factory, it has announced. Hafslund Nycomed will own 60% of the joint venture and Huai Hai 40%.
The joint-venture company will be known as Shanghai Nycomed Pharmaceutical Company and will focus on the production and sale of ionic and non-ionic X-ray contrast agents in China, as well as for export to surrounding markets.
Huai Hai is currently the sole producer of the bulk materials for ionic contrast agents in the People's Republic of China.
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