Sinopharm going all out to realise high-quality development

China National Pharmaceutical Group, also known as Sinopharm, will step up efforts in innovation to propel high-quality development that is featured by further improvements in industrial, supply and value chains, according to senior company executives.

Liu Jingzhen, Sinopharm chairman, said at a news conference in Beijing that the company will better coordinate industrial development and capital market utilisation to complete its layout in the pharmaceutical and healthcare industry and stimulate formation of independently developed new technologies to meet the nation’s need for safeguarding its people’s health.

The nation’s largest healthcare company, Sinopharm ranked 80th on the latest Fortune Global 500 list with revenue hitting Us$108.78bil (Rm486bil) last year.

This means the company not only made the top 100 enterprises on the list for the first time, but it was also the only pharmaceutical company in the world to be ranked among the top 100 enterprises on the list in general, beating many global pharmaceutical giants.

Since it debuted on the Fortune Global 500 list in 2013 in 446th place, the company has been included on the list for 10 successive years to move up to its current position.

Dong Zenghe, deputy general manager of Sinopharm, said the company will accelerate research and development of innovative products and key technologies to further increase its presence in sectors such as innovative medicines, digital and intelligent manufacturing, and innovative medical devices.

“We will promote deep integration of innovation and industrial chains and increase efforts to further tap potential in life sciences and medicine sectors on the premise of meeting requirements from national agendas,” Dong said. — China Daily/ann