Singapore: Chugai Pharmaceutical has announced that it has signed an agreement with the Taizhou Medical High-Tech Industrial Development Zone, a special economic zone in Taizhou, Jiangsu Province, China, to enter the China Medical City. Chugai will establish a wholly-owned import and sales & marketing subsidiary, Chugai Pharma (China) Co., Ltd. in CMC.

Chugai Pharma (China) has said that it would begin conducting the import and sales & marketing of Chugai products as a base for Chinese pharmaceutical market.

Chugai's business activities in China are said to be more flexible and will increase with the addition of this business model that Chugai itself will distribute the products.

"We are extremely happy to be able to establish a sales & marketing function in China. We intend to build upon the business experience and network we have established in China thus far to further strengthen our sales & marketing function," Osamu Nagayama, Chairman & CEO of Chugai said at the announcement.

Lu Chunyun, Secretary of Party Working Committee of CMC said, "We recognize that the entry of Chugai into CMC is based on trust that CMC has an established pharmaceutical business environment, and it will be a strong driving force for the development of CMC as well. Taizhou and CMC will provide an exceptional environment and services to Chugai, and will provide full support for the business activities of Chugai Pharma (China). We promise to build a win-win relationship as we grow and develop together."