Merck, has signed a Memorandum of Understanding (MOU) to begin strategic collaboration with Guangzhou Pharmaceutical Holdings Limited (GPHL), China's leading pharmaceutical company. The collaboration aims to explore the areas including new business model innovation, pipeline innovation, and market expansion, drawing on the unique development opportunities for the biopharma industry in the Guangdong-Hong Kong-Macao Greater Bay Area.
"As one of our most important strategic markets globally, China is a vital link in our global innovation chain," said Stefan Oschmann, Chairman of the Executive Board and CEO of Merck.
"GPHL has taken a strategic decision to partner with Merck in pharmaceutical R&D and distribution. This will provide crucial support to our future efforts not only in innovation but also sustainable development, and strengthen our ability to do business overseas," said Li Chuyuan, the Secretary of the Party Committee and Chairman of GPHL".
The Guangdong-Hong Kong-Macao Greater Bay Area in China has a noticeable advantage in the industrial agglomeration and a complete upstream and downstream industry chain. It is particularly well-regarded when it comes to the R&D, production and distribution of chemical medicine.
In recent years, Merck has attached great importance to its partnerships in the Guangdong-Hong Kong-Macao Greater Bay Area. On November 15, 2019, Merck officially launched its Guangdong Innovation Hub, focused on bringing solutions to market covering healthcare, life sciences, performance materials and other emerging scientific and technological areas. During the 3rd China International Import Expo in 2020, the Merck China Innovation Center released its Guangdong-Hong Kong-Macao Greater Bay Area Innovation Ecosystem White Paper, investigating the potential for further planning, industrial integration, and innovation development in the region.