OREANDA-NEWS. FUJIFILM Corporation has reached an agreement to subscribe for HK$820 million of ordinary shares in China Resources Pharmaceutical Group Limited (hereinafter China Resources Pharmaceutical Group) pursuant to its proposed initial public offering and new listing on the Main Board of the Hong Kong Stock Exchange.

As a core subsidiary of China Resources (Holdings) Company Limited (hereinafter China Resources Holdings), one of China's largest business conglomerates, China Resources Pharmaceutical Group operates a business involved in manufacturing, distribution and retail of a diverse range of different pharmaceuticals including chemical drugs, biopharmaceutical products and Chinese medicines. Since its incorporation in 2007, China Resources Pharmaceutical Group has grown continuously through the strategic acquisition of pharmaceutical companies and distributors in China, and became China's second largest pharmaceutical manufacturer in terms of revenue by 2015 and also a leading pharmaceutical distributor in China. China Resources Pharmaceutical Group has an extensive distribution network including 109 subsidiaries and 114 logistics centers located in major markets in China and it is capable of selling pharmaceutical products directly to more than 41,000 hospitals.

China Resources Pharmaceutical Group has a diverse retail network that includes Dong-E-E-Jiao Company Limited, a retailer of health food products. It also has close cooperative relationships with subsidiaries of China Resources Holdings including China Resources Vanguard, one of China's largest major retail chains.

Fujifilm has been operating healthcare business in China principally for medical diagnosis systems and services including X-ray diagnostic imaging devices, endoscopes and medical IT. Recently, Fujifilm is accelerating cooperation with Chinese major pharmaceutical companies and working to expand its healthcare business. The initiatives include an exclusive sales contract with Shenzhen Main Luck Pharmaceuticals Inc. for the Oral New-Type Quinolone Antibacterial Agent “Geninax tablets” as well as a patent licensing contract with Zhejiang Hisun Pharmaceutical Co., Ltd, for the effective ingredient of the anti-influenza drug “Avigan ® tablets”.