The recently announced Joint-Venture between Eckert & Ziegler and Yantai DongCheng Pharma has been sealed with a signing ceremony in Yantai, China.
The agreement is an important milestone to finally address the growing demand for cyclotron-based radionuclides and further crucial isotopes such as Lutetium-177 in China.
Get further background information on the JV and its influence on the businesses and Chinese market now.
Following the recent announcement for the Joint-Venture Agreement between Eckert & Ziegler AG (EZAG) and Yantai DongCheng Pharma (DC Pharma) the official signing ceremony was held on November 20, 2023, in Yantai, China.
The Joint-Venture at a Glance
– Major milestone with regards to the increasing demand for medical radionuclides
– Manufacturing of cyclotron-based radionuclides and further crucial isotopes such as Lu-177
– Use of the existing Eckert & Ziegler production site in Jintan near Shanghai
– Finalization of the building construction and installation of a cyclotron
– DC Pharma investment of € 20 million in Qi Kang Medical Technology (Changzhou) Co., Ltd. by capital increase
– 50:50 Joint Venture
In presence of Dr. Andreas Eckert, Founder and Chairman of the Supervisory Board of EZAG, Shouyi You, Chairman of the Board of DC Pharma and further representatives, Jutta Ludwig, Member of the Executive Board and responsible for the Asia Business of EZAG and Zhigang Luo, DC Pharma Group CEO ceremoniously signed the agreement for this important joint-venture.
Alongside the actual signing ceremony, the meeting also included an intensive exchange about the companies involved, their products, market prospects and potential. The exchange was further enhanced during a tour of the DC Pharma site in Muping.
Nuclear Medicine and radiopharmaceutical solutions are currently underrepresented on the Chinese and regional Asian markets. With our joint-venture, we will contribute to filling this gap by combining the comprehensive market expertise and network of DongCheng Pharma with Eckert & Ziegler’s experience in radiopharmaceutical production.
Jutta Ludwig, Member of the Executive Board, EZAG
DC Pharma is one of the leading radiopharmaceutical companies in China with sales of 498 million US$ or 3.6 billion CNY (2022). Their market position and future development perspectives are based on an extensive expansion strategy involving the establishment of dozens of radiopharmacies throughout the country as well as strong focus on development and innovative radiopharmaceuticals.
This joint-venture optimally supports our activities in China. An essential component for the development of our structures is the supply with radionuclides used in diagnostics and therapeutics. We are glad we will be able to access the infrastructure and utilize the long-term experience of Eckert & Ziegler with this partnership.
Zhigang Luo, Group CEO, DC Pharma
EZAG subsidiary Qi Kang Medical in 2021 acquired an approximately 7,000 m² property in Jintan. Since 2022 the construction of a building and manufacturing facility for radionuclides is ongoing. In April 2023, Qi Kang Medical received the authorization for its Environmental Impact Assessment from the local authorities. This allows for the construction of a radioisotope production facility consisting of clean rooms for sealed and non-sealed radioactive material, laboratories for quality control and microbiology as well as the installation of a cyclotron.
Based on these developments, the newly founded joint-venture will finalize the construction and start production of cyclotron-based radionuclides. At a later stage, additional production lines for further radioisotopes such as Lutetium-177 will follow. As part of its Medical business segment, Eckert & Ziegler offers a large variety of technical solutions and process development expertise to support the activities.
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