GPHL and Merck build strategic partnership on business innovation and development in GBA
2021-03-03 14:40:15 GPHL GPHL
On March 2nd, 2021, GPHL, China's leading pharmaceutical and healthcare company, entered into a Memorandum of Understanding (MOU) to build strategic collaboration with Merck, a leading American science and technology company with German history. The two parties will explore and collaborate in the areas including product research and development, business model innovation and market expansion, drawing on the development advantages and opening-up opportunities for the biopharma industry in the Guangdong-Hong Kong-Macao Greater Bay Area.
“GPHL has taken a strategic decision to partner with Merck in pharmaceutical R&D and distribution. This will provide crucial support to our future efforts not only in innovation but also sustainable development, and strengthen our ability to do business overseas,” GPHL chairman Li Chuyuan said.
GPHL, the largest pharmaceutical company in China, has topped the list of Top 100 Enterprises in China’s Pharmaceutical Industry for nine consecutive years. GPHL is well-established in the Greater Bay Area and established its international headquarters in Macao. It has established multi-level partnerships with the University of Hong Kong, University of Macau, Macau University of Science and Technology and Traditional Chinese Medicine Science and Technology Industrial Park of Co-operation between Guangdong and Macao (GMTCM Park).
In addition to its strengths in traditional industries such as proprietary Chinese medicines and botanical medicines, chemical raw materials and preparations, GPHL is developing R&D and the manufacturing of biological medicines and health products, as well as developing business logistics, distribution and healthcare services. GPHL has established several joint ventures with Global Fortune 500 companies, including Walgreens Boots Alliance, Baxter and Hutchison Whampoa. It has also established strategic partnerships with multiple multinationals, including Pepsi and Takeda.
“As one of our most important strategic markets globally, China is a vital link in our global innovation chain,” said Stefan Oschmann, Chairman and CEO of Merck. “China has been demonstrating the tremendous innovative potential of its healthcare space. We look forward to joining hands with GPHL, a true leader in this field. Through our partnership, we want to further strengthen the innovation capabilities of the pharmaceutical and healthcare industries in the Greater Bay Area, enhancing patients' access to high-quality medicines in China and around the world.”
Known for being one of the most dynamic and open regions in China, the Guangdong-Hong Kong-Macao Greater Bay Area continues to play a pioneering role in the development of China's biopharma industry. The region has a noticeable advantage in industrial agglomeration and a complete upstream and downstream industry chain. It is particularly well-regarded when it comes to the R&D, production and distribution of chemical medicine.
“The Greater Bay Area has become one of Merck’s most important strategic areas in China,” noted Rogier Janssens, Managing Director and General Manager of Merck’s Healthcare Business in China, “Our strategic cooperation with GPHL is an important step for Merck to become more deeply engaged with China's healthcare market, as we continuously innovate and accelerate the local healthcare ecosystem. We look forward to working with GPHL to explore more possibilities in pharma innovation, promote the future development of pharmaceutical retail and strengthen the biopharma innovation ecosystem in the Greater Bay Area, in turn continuously bringing high-quality innovative drugs to more Chinese patients.”
In recent years, Merck has attached great importance to its partnerships in the Guangdong-Hong Kong-Macao Greater Bay Area. On November 15th, 2019, Merck officially launched its Guangdong Innovation Hub, aiming to partner with local government industrial parks, incubators and academic and investment institutions to develop innovative technologies. During the 3rd China International Import Expo in 2020, the Merck China Innovation Center released its Guangdong-Hong Kong-Macao Greater Bay Area Innovation Ecosystem White Paper, investigating the potential for further planning, industrial integration, and innovation development in the region.
Authors: Monica & Michelle
Editors: Olivia & Jerry