Founder Group Broke Ground on Its Pharmaceutical Base in Chongqing   

PKU International HealthCare Group, a wholly-owned subsidiary of Founder Group, held a groundbreaking ceremony on July 15th for its Chongqing pharmaceuticals manufacturing base at Liangjiang industrial cluster of Chongqing, southwestern China. Construction is planned to proceed in two phases with a total investment of RMB5 billion. Phase one will be completed at the end of 2011 and start up in 2012. Founder Group expects the base can add an annual sale of RMB10 billion when completed and will become the largest drug exporting platform in western China. No product portfolio in details is commented.
    Founder Group, formerly focusing on IT business, entered pharmaceutical sector by the acquisition of listed pharmaceutical company PKU International Healthcare Group Southwest Pharmaceutical Co Ltd (SZ: 000788) of Chongqing in 2003. In 2007 Founder Group acquired 87.6% equity in Chongqing Daxin Pharmaceutical Co Ltd.
   Wei Xin, Founder Group president, disclosed that the group planned to construct biological pharmaceutical projects jointly with new international investors on the Chongqing site.