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(Yicai Global) Dec. 1 -- Chinese pharmaceutical firm Hebei Changshan Biochemical Pharmaceutical Co. [SHE:300255] plans to establish a joint venture with Italian drug company InnPharm SRL to sell the latter's hyaluronic acid products in Asia, the company said in a press briefing.
Changshan will provide 51 percent of investment for the joint venture, with InnPharm contributing the remainder. The two parties did not disclose the specific amount of investment or the place of registration.
InnPharm produces and sells medical devices, beauty and pharmaceutical products. It has obtained European Union CE certification for hyaluronic acid products
Hyaluronic acid is a moisturizing ingredient widely used in skin care products and cosmetics for its anti-wrinkle and anti-aging properties. It can also be used for eye drops, contact lens care and ophthalmic surgery.
Changshan Pharmaceutical, founded in 2000, is mainly engaged in the production of raw materials and preparations for heparin. The company is one the few enterprises in the country with a complete series of heparin products, and has sold products in more than 30 countries and regions globally.