On March 31st, 2017, China Resources Pharmaceutical Group (CR Pharma) signed agreement for Strategic Business Alliance with Fujifilm Corporation (Fujifilm) in Tokyo, Japan. This agreement is based on the Confirmation letter entered into by and between China Resources (Holdings) Co., Ltd., a parent company of CR Pharma and FUJIFILM Holdings Corporation, a parent company of Fujifilm on November 10th, 2016.CR Pharma and Fujifilm have founded multiple business areas for potential alliance that would benefit both Parties. In order to confirm the intentions of further pursuing potential business alliance in such business areas and to further discuss the terms and conditions of formal definitive agreement for each business area of alliance, both parties agreed to sign the Strategic Business Alliance. Under this agreement, CR Pharma will be responsible for the development, production or resale of Fujifilm’s or Fujifilm Affiliates’ products in Mainland China and Hong Kong. Products may include, but not limited to biosimilars, small molecule drugs, double bags for packaging and health supplements. Both parties also agreed to set up a “Joint Development Center” inside the premises of CR Pharma R&D center with the aim to expand the healthcare business of both parties.
