Henlius, XtalPi sign deals to expand abroad as Chinese drug companies ‘go out’ for growth
Shanghai Henlius struck a deal in Saudi Arabia while XtalPi signed a partnership with Sinar Mas Multiartha in Indonesia
“The collaboration [with SVAX] is a key part of Henlius’ globalisation blueprint, which will accelerate our business development in key markets and augment our international competitiveness,” said the company’s CEO Zhu Jun.
The ventures underscore the trend by mainland companies across a range of industries that are expanding offshore to survive the gruelling competition at home. Pharmaceuticals is the latest industry to look overseas to “go out”, joining e-commerce, AI, and electric vehicle assemblers.
Henlius’ ventures with SVAX will produce and commercialise pharmaceuticals, using the Saudi company’s expertise in drug registration, market entry and marketing to increase the supply of affordable therapies in the region commonly known as Middle East, North Africa and Turkey (Menat).