BEIJING, Sept. 3 (Xinhua) -- Apeloa Pharmaceutical Co., Ltd. (000739.SZ), a reputed pharmaceutical company in China, will set up a subsidiary in China (Shanghai) Pilot Free Trade Zone (FTZ), according to its filing to the stock exchange on Wednesday.
The subsidiary, with an initial registered capital of 15 million yuan (about 2.19 million U.S. dollars), will leverage the strengths of professional personnel, unique location and favorable policies provided by the Shanghai FTZ to improve its research and development (R&D) competitiveness as a contract development and manufacturing organization (CDMO).
Apeloa, based in east China's Zhejiang Province, has been engaging in R&D, manufacturing and sales of pharmaceuticals and chemicals for many years.
(Edited by Li Shimeng, Hu Pingchao with Xinhua Silk Road, lishimeng@xinhua.org, hupingchao@xinhua.org)
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