Sino-American Joint Venture

- The American Taishan Pharmaceuticals company and a group that includes the China International Exchange Center for Traditional Chinese Medicine, China National Corporation of Traditional Chinese and Herbal Medicine, and the Shanghai Traditional Chinese Drugs Co, have signed an agreement to establish a Sino-American joint venture, Taishan Pharmaceuticals Ltd.

Located in Shunyi County of Beijing, the firm will produce medicine, food supplements and other health care supplies according to the demands of the international market. More than 90% of its products will be sold in the USA and other markets, with domestic sales representing the remaining 10%, according to China Medipharm Insight.

The investment being made into the joint venture is estimated to be $10 million in the first phase, 49% of which will be put up by the Chinese side. The first batch of Taishan brand medicines is expected to be in sales in 1998.