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news.China Biopharma has revealed plans to shift its strategic focus away from its low margin vaccine business and towards higher margin specialty pharmaceutical products.
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Recent changes in the vaccines sector has resulted in more manufacturers entering into low margin areas, such as flu vaccines, thus creating severe competition. The company said it would enter the specialty pharmaceutical products market, with a possible emphasis on anti-virals.
China Biopharma has most of its operations in China. Working to take direct control on subsidiaries’ operation and financial management, the company plans to increase its shareholding in China Zhejiang Tianyuan Biotech Co. and eventually to have 100% control and ownership in this joint venture. With internally available resources, there would be no need to raise additional capital to complete the transactions. This is expected to improve current performance and increase operation stability.
Peter Wang, CEO and chairman of board, said: “We plan to take more control on the available cash in out subsidiaries and move into higher market potential and higher margin specialty pharmaceutical products. And we are negotiating with a few global vaccine manufacturers now for carrying their higher margin products, in order to avoid direct competitions with other manufacturers.”