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The Bracco Group and Shanghai Pharmaceuticals Holding renew their partnership until 2037

Shangai , 12/16/2016

The Bracco Group and Shanghai Pharmaceuticals Holding, the second most important Chinese pharmaceutical company, have renewed today the Bracco Sine Joint Venture partnership until 2037. The renegotiation process began in 2014 and reached its first major milestone at the end of 2015, when both Companies expressed the wish to continue their fruitful collaboration for the coming years.
The agreement, signed by Fulvio Renoldi Bracco, Head of Global Business Unit Imaging at Bracco, and Gu Haoliang, Vice President of Shanghai Pharmaceuticals Holding and General Manager of Sine Pharma, took place in Shanghai in the presence of the Ambassador of Italy to the People's Republic of China, Ettore Francesco Sequi, the Consul General of Italy in Shanghai, Stefano Beltrame, the Italian Trade Commissioner of the ICE (Agency for the promotion abroad and globalization of Italian enterprises) in Shanghai, Claudio Pasqualucci and Chinese institutional representatives, such as officials from SFDA (State Food and Drug Administration) and PDSMA (Pudong Marketing Supervision Administration).

The new agreement extends the partnership for an additional 20 years, and further consolidates the Italian company’s presence in China. "Today's signing is an important step for the future of the Bracco Group," stated Fulvio Renoldi Bracco. "The renewal of the joint venture between Bracco and Sine Pharmaceuticals until 2037 further consolidates our presence in one of the most geographically strategic areas for the Group. In fact, China has already this year become the second most important market for us regarding turnover. The deal provides for a greater focus on the development of local needs, on the one hand continuing on the path of consolidation in X-ray/Computed Tomography and Magnetic Resonance imaging modalities; on the other, working in the area of contrast media for ultrasound, an especially innovative and potentially far-reaching imaging modality. This collaboration," concludes Fulvio Renoldi Bracco, "will provide Bracco Sine with new growth opportunities in a market undergoing a significant transformation led by the current Chinese health system reform. Contributing to China's growth is an honor for an Italian company."
 
In the economic and trade relations between Italy and China, healthcare is of paramount importance” added Ambassador Sequi. “I attended today’s event because the evolution of the healthcare system in China and its undergoing reform, together with the contribution of the Italian expertise, are expected to deliver a positive outcome for patients and general well-being that is a priority for both China and Italy. The strong partnership between the Bracco Group and Shanghai Pharmaceuticals Holding started more than 15 years ago and the fact that now it will last for 20 more years is further fueling the cooperation between Italy and China in the healthcare sector. There’s a notion of trust and loyalty in a Chinese proverb that says that you have to fall in love many times but with the same person for a successful marriage. That’s what happened between the two Companies” the Ambassador concluded.

Finally, the renewed joint venture will provide new growth opportunities for the Bracco-Sine joint venture in a market undergoing a significant transformation led by the current Chinese Health System reform.

Bracco Group and Shanghai Pharmaceuticals Holding renew their partnership

Bracco WorldWide

The Bracco Group,
through its subsidiary
Bracco Imaging
operates throughout
the world both directly
or indirectly.

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Our History

The Bracco Group
exists since 1927,
when Elio Bracco
founded the Italian
E. Merck company
branch.

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Structure

The Bracco Group
operates through its
three business units.

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