Qilu Pharmaceutical prepares the growth strategy of its Spanish subsidiary

Qilu Pharma Spain increases its share capital by €1 million to €4,200,012

According to the Official Gazette of the Companies Registry (BORME), Qilu Pharma Spain increased its share capital by €1 million on December 9, 2020. With this operation, the Spanish subsidiary of Qilu Pharmaceutical now has a share capital of €4,200,012, as stated in the official document.

Qilu Pharmaceutical is one the leading 50 Chinese pharmaceutical companies, which focuses on research and development, manufacturing and marketing generic drugs and biosimilars. It was founded in 1958 and its subsidiary was established in Spain in 2014, year in which the Spanish Agency of Medicines and Medical Devices (AEMPS) approved its facilities to manufacture lyophilised cake for injection.

Technology imported from Spain
As a matter of fact, the cutting-edge technology used by Qilu Pharmaceutical to manufacture lyophilised cake has returned, i.e., the technology taken to China in 1993 was brought back to Spain, Germany and France.

The Spanish subsidiary is managed by Jing Jing Li, who established the first company in Europe, with the aim of positioning its brand in the European market. Its product portfolio includes a wide range of generic drugs. Moreover, the company focuses its research and development work in four therapy areas: infectious diseases, cardiovascular diseases, neuroscience and oncology.

Research and manufacturing
Qilu not only markets the end product, nut also its active ingredients. The company has eight research and manufacturing centers, with over 8,000 employees, with at least 10% of the workforce dedicated to specialized research and development tasks. Its drugs are sold in more than 50 countries on all continents.

As part of its growth strategy, Qilu has invested over €150 million since 2014 for the construction of a biotechnology park, of over 110,000 square meters.