Krka co-owns two Chinese companies

By signing the contracts for increase in capital, Krka, d. d., Novo mesto has become a minority owner, into two private pharmaceutical and chemical companies in China.

These are Zhejiang Menovo Pharmaceuticals Co., Ltd. (Shangju) and Anhui Menovo Pharmaceuticals Co., Ltd. (Guangde).

With an investment of $794,000 in each company, Krka acquires an ownership share of 7.5% in both companies.

The decision has been made in accordance with Krka’s development plans because Krka needs additional chemical synthesis capacities over the long term, said Mr Jože Colarič, President of the Management Board and Chief Executive of Krka, d. d. from Novo mesto.

The two companies were founded several years ago and their total annual sales amount to $30 million.

By taking this step, Krka has mainly ensured competitive supply of quality key chemicals and intermediates for the production of active pharmaceutical ingredients and pharmaceutical products in Slovenia.