AlphaRx has selected locations in Hong Kong and Shanghai for its corporate headquarters and a new R&D facility respectively. The company said that the initiative will spearhead a major push into Greater China.
Reportedly, the R&D facility will be located in Shanghai which is situated on 740 acres of land in Zhangjiang High-Tech Park, Shanghai.
Michael Lee, president and CEO of AlphaRx, said: “The Shanghai government has offered business incentives to help the decision-making process.
“Some of the incentives include financial assistance through various types of transactions, including grants, loan guarantees and interest subsidies which translate into substantial reduction in overall project development costs.”
The company has added that there will be no impact to AlphaRx’s presence in Toronto, Canada which continues to serve as its headquarters in North America.