On June 8 the China-Italy Chamber of Commerce (CICC) was invited to participate in the South Plant Phase III Kickoff Ceremony of the CICC member Shanghai Bracco Sine Pharmaceutical Co., Ltd in Shanghai Jinqiao Comprehensive Security Zone.
The following guests attended the event:
Commercial Consul Ms. Alessandra Palumbo, Mr. Fulvio Renoldi Bracco from Bracco Imaging s.p.a., Mr. Dongsheng Lv from Shanghai Jinqiao Administration, Mr. Min Zuo from Shanghai Pharma Holdings, and the General Manager of Shanghai Bracco Sine Pharmaceutical Corp., Ltd Mr. Valtero Canepa gave the welcome speech.
The event took place at the South Plant III site, where a 190 million RMB of capital injection was completed during the kickoff ceremony. Mr. Fulvio Renoldi Bracco representing Bracco Imaging Group, and Mr. Deqing Pan representing Shanghai Pharmaceutical Group, signed the investment cheque on the stage together and handed it over to the General Manager of Shanghai Bracco Sine Pharmaceutical Corp., Ltd. Mr. Valtero Canepa, and Deputy General Manager Mrs. Wendy Lu.
Along with the successful conclusion of the new investment partnership, the atmosphere was brought to a climax with the appearance of the traditional Chinese dragon and lion dance team, which symbolizes good luck and fortune.
Shanghai Bracco Sine Pharmaceutical Corp. Ltd. (in short "BraccoSine") was established in 2001, with Bracco Group holding 70% shares and SPH holding 30% shares. The main business is production, commercial operation, and medical support of diagnostic contrast medium.
Phase I & II of South Site have achieved the second package for the product SonoVue’s and IOM commercial production. Phase III will be designed according to the requirements of Chinese and internal cGMP, 4 products will be local production including Iomeron, Iopamiro, Multihance, ProHance. Introduce advanced production lines, intelligent QC lab and warehouse etc. Phase III has been approved for an additional investment of 190 million RMB. After project completion, Bracco Sine will be able to produce over 20 million doses of contrast medium yearly to not only meet domestic demand but also potentially expand overseas business in APAC.