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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
In 2007, HPGC obtained approximately 73% and 14% of its total revenue from the sale of Western medicines and TCM preparations, respectively.
In February 2018, HPGC announced its intentions to purchase a 40% stake in GNC Holdings, Inc. for , following GNC's filing for
pharmaceutical
A medication (also called medicament, medicine, pharmaceutical drug, medicinal drug or simply drug) is a drug used to diagnose, cure, treat, or prevent disease. Drug therapy (pharmacotherapy) is an important part of the medical field and re ...
products. HPGC medication offerings include traditional Chinese medicine
Traditional Chinese medicine (TCM) is an alternative medical practice drawn from traditional medicine in China. It has been described as "fraught with pseudoscience", with the majority of its treatments having no logical mechanism of action ...
(TCM) and biopharmaceuticals
A biopharmaceutical, also known as a biological medical product, or biologic, is any pharmaceutical drug product manufactured in, extracted from, or semisynthesized from biological sources. Different from totally synthesized pharmaceuticals, t ...
; its main offerings include antibiotics
An antibiotic is a type of antimicrobial substance active against bacteria. It is the most important type of antibacterial agent for fighting bacterial infections, and antibiotic medications are widely used in the treatment and prevention o ...
, including amoxicillin and penicillin
Penicillins (P, PCN or PEN) are a group of β-lactam antibiotics originally obtained from ''Penicillium'' moulds, principally '' P. chrysogenum'' and '' P. rubens''. Most penicillins in clinical use are synthesised by P. chrysogenum using ...
, and dietary supplements
A dietary supplement is a manufactured product intended to supplement one's diet by taking a pill (pharmacy), pill, capsule (pharmacy), capsule, tablet (pharmacy), tablet, powder, or liquid. A supplement can provide nutrients either extr ...
, including zinc gluconate
Zinc gluconate is the zinc salt of gluconic acid. It is an ionic compound consisting of two anions of gluconate for each zinc(II) cation. Zinc gluconate is a popular form for the delivery of zinc as a dietary supplement providing 14.35% elementa ...
and calcium gluconate.
The company owns both Renmintongtai (), a drugstore chain and medical wholesaler
Wholesaling or distributing is the sale of goods or merchandise to retailers; to industrial, commercial, institutional or other professional business users; or to other wholesalers (wholesale businesses) and related subordinated services. In g ...
for the domestic market, and GNC, a U.S.-based international retailer of supplements and wellness products.
History
In 2007, HPGC obtained approximately 73% and 14% of its total revenue from the sale of Western medicines and TCM preparations, respectively.
In February 2018, HPGC announced its intentions to purchase a 40% stake in GNC Holdings, Inc. for , following GNC's filing for Chapter 11 bankruptcy
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whe ...
. In September 2020, it wholly acquired the company for .
HPGC manufactures and distributes products for GNC China (known as ) under a joint venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...
, GNC (Shanghai) Food Technology Co., Ltd, formed in February 2019.
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.
References
External links
* * {{Pharmaceutical companies of China Pharmaceutical companies of China Companies based in Harbin Chinese brands Government-owned companies of China