Sichuan Joint-Wit Medical & Pharmaceutical Expands Sales Network     

Sichuan Joint-Wit Medical & Pharmaceutical Industry Co., Ltd. (SZ: 000809) announced on January 6th its controlling subsidiary Chengdu Joint-Wit Medical Co., Ltd. plans to form a joint venture with SU BioMedicine B. V.
   The proposed 50/50 jv China-Netherlands Joint-Wit BioMedicine (Chengdu) Company Ltd. will have a registered capital of RMB10 million, of which RMB5 million subscribed by Chengdu Joint-Wit Medical for the 50% stake, and remaining 50% for SU BioMedicine.   
   The move is aiming at expanding Sichuan Joint-Wit Medical & Pharmaceutical's medicine sales network to the European market and raising its global competitive edge.
   The company also posted to merge Sichuan Yatai Pharmaceutical Co., Ltd. into Chengdu Joint-Wit Medical Co., Ltd., to reduce workforce cost and integrate resources distribution.
   Sichuan Joint-Wit Medical & Pharmaceutical, based in Chengdu of Sichuan province, focuses on the R & D, manufacture and sales of Chinese medicines, medicines, health foods and herbal extracts etc.