Shanghai Pharma enters partnership with Canadian farm
Northland Ginseng Farms based in Ontario, Canada.
Shanghai Pharmaceutical Holdings Shenxiang Health Medicine Co said on Monday it has entered into a strategic partnership with Northland Ginseng Farms in Ontario, Canada, to set up a farm for ginseng products.
Shanghai Shenxiang Health Medicine will procure raw material directly from the standardized planting site at Northland Ginseng Farms and provide growing standards and guidance so that they can meet local food and drug standards.
It's also an important step by Shanghai Pharmaceutical Shenxiang Health to carry out its blueprint of setting up farm to be close to the raw materials to ensure quality.
Chairman of Shanghai Pharmaceutical Shenxiang and general manager of Shanghai Traditional Chinese Medicine Co, Yu Weidong, said this was the latest move for Shanghai Pharma to grab opportunities presented by the Belt & Road Initiative to shore up its raw material supply from the original source of production.
The total amount of sourcing would represent about 50 million yuan (US$7.5 million) of annual retail sales at Shanghai Pharma Shenxiang.
It will also continue to push forward sustainable manufacturing and sourcing by collaborating with other potential overseas planting sites.
