Bracco has announced the renewal of its joint venture partnership with Shanghai Pharmaceuticals, one of the leading pharmaceutical companies in China.
The organisations began renegotiating the terms of the Bracco Sine Joint Venture partnership in 2014, with both partners expressing an active interest in renewing it in 2015. This new agreement will extend the alliance for a further 20 years until 2037.
“Bracco has renewed its joint venture partnership with Shanghai Pharmaceuticals for an additional 20 years until 2037.“
Over the coming decades, the companies will work together to address local needs, including the consolidation of X-ray/computed tomography and magnetic resonance imaging modalities, as well as new ultrasound contrast media innovations.
China has become the second most important market for Bracco in terms of turnover, which is why the company is seeking to consolidate its position in this increasingly key market.
Fulvio Renoldi Bracco, head of Bracco's global imaging business unit at Bracco, said: "This collaboration will provide Bracco Sine with new growth opportunities in a market undergoing a significant transformation led by the current Chinese health system reform."
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