Harbin Pharmaceutical Group

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Harbin Pharmaceutical Group Co., Ltd.
Company type
Hanyu Pinyin
Hāyào Jítuán
Websitehayao.comFootnotes / references
[1]

Harbin Pharmaceutical Group Co., Ltd. (shortened to HPGC or Hayao) is a Chinese partially state-owned company engaged in the research & development, manufacture, and sale of pharmaceutical products.[2][3][4] HPGC medication offerings include traditional Chinese medicine (TCM) and biopharmaceuticals; its main offerings include antibiotics, including amoxicillin and penicillin, and dietary supplements, including zinc gluconate and calcium gluconate.[5]

The company owns both Renmintongtai (人民同泰), a drugstore chain and medical wholesaler for the domestic market, and GNC, a U.S.-based international retailer of supplements and wellness products.

History

Harbin Pharmaceutical Group Factory No. 6

In 2007, HPGC obtained approximately 73% and 14% of its total revenue from the sale of Western medicines and TCM preparations, respectively.[citation needed]

In February 2018, HPGC announced its intentions to purchase a 40% stake in

GNC Holdings, Inc. for US$300 million, following GNC's filing for Chapter 11 bankruptcy. In September 2020, it wholly acquired the company for US$770 million.[6][7]

HPGC manufactures and distributes products for GNC China (known as 健安喜; Jiàn'ānxǐ) under a joint venture, GNC (Shanghai) Food Technology Co., Ltd, formed in February 2019.[8]

In February 2022, HPGC was stripped of its National Enterprise Technology Center status, a state designation for enterprises identified as capable of extraordinary technology innovation, by the National Development and Reform Commission after failing to meet the previous year's qualification requirements.[9]

References

  1. ^ "HPGC 2022 Semi-Annual Report". Shanghai Stock Exchange. Retrieved November 12, 2022.
  2. ^ "Harbin Pharmaceutical to issue RMB 800 mln short-term bonds". news.alibaba.com. 10 November 2008. Retrieved 2020-09-13.
  3. ISSN 0099-9660
    . Retrieved 2020-09-13.
  4. ISSN 0362-4331
    . Retrieved 2020-09-13.
  5. ^ "Harbin Pharmaceutical Group Co Ltd - Company Profile and News". Bloomberg.com. Retrieved 2021-03-26.
  6. ^ "GNC Taps 5WPR For Consumer Business". www.provokemedia.com. Retrieved 2021-04-08.
  7. ^ "GNC, China's Harbin Pharmaceutical agree on sale price before auction". New Hope Network. 2020-08-10. Retrieved 2021-04-08.
  8. ^ Yukun, Liu; Hu, Yuanyuan (2018-02-26). "Hayao picks 40% stake in GNC, to also form new JV". China Daily. Retrieved 2022-11-12.
  9. ^ Wang, Qiwen (2022-03-11). "不止茅台，东阿阿胶、哈药等「国家企业技术中心」资格也被撤". The Paper (in Chinese). Archived from the original on 2022-11-12. Retrieved 2022-11-12.

External links

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