“The significance of this joint venture is that it now links a low-cost producer, with a huge manufacturing capacity,” Said Dr Frank Leung, Coremed’s founder. “Combined, this will position Coremed to one day serve global biopharmaceutical markets.”
Fosun’s pharma division is recognized for its drug manufacturing, diagnostic products, medical devices, R&D and logistics. Whilst Wanbang is the largest manufacturer of insulin in China, with dominant market share in a country that has an estimated 40-50 million diabetics.
Founded in 1994, Coremed is exclusively dedicated to the development of alternate insulin delivery.