PuraPharm Corp. Ltd. (01498.HK) plans to open up to 60 more Nong’s Chinese medical clinics in the mainland this year, and double its capacity for manufacturing Chinese medicines by next year, the Hong Kong Economic Journal reported on Thursday.
The company will also open its first Chinese-Western medical clinic in Hong Kong this year.
As of the end of 2015, PuraPharm has established 30 Chinese medical clinics in the mainland, meeting the target it announced during its initial public offering in Hong Kong last year.
One of the new clinics will be opened in the outer area of Shanghai, the company’s first establishment in such a district, chairman Abraham Chan said.
Meanwhile, the company aims to invest 30 million yuan (US$4.56 million) to double its manufacturing capacity to 2,000 tons annually by 2017.
Chan expects sales of concentrated Chinese medicine granules to hit 22 billion yuan by 2020, or a compound annual growth rate of 22.4 percent, compared with 7.8 billion yuan in 2014.
The 2014 figure only accounted for 4 percent of the total sales in the ready-made Chinese medicine market that was worth 196.8 billion yuan that year.
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