Rafarma Pharmaceuticals, Inc. (OTC: RAFA) is pleased to announce its cooperation with Long Sheng Pharma Limited, a Hong Kong manufacturing and sale of pharmaceutical equipment, raw materials, and petrochemicals company. The parties plan to set up a joint venture in Hong Kong with the registration of a new company.
The pharmaceutical company will be engaged in the production and registration in Hong Kong of medical devices, as well as medicinal and diagnostic preparations containing radioactive isotopes. The companies also plan to sell and distribute products in the markets agreed upon by the partner.
One of the primary enterprise activities will be the production of various sources based on cobalt-60 and iodine-90 and a number of other isotopes. Radioactive isotopes are used in radiosurgery of oncological disease and in brachytherapy, radiosynovectomy and treatment method using microspheres. With these products, Rafarma Pharmaceuticals wants to distribute to the markets of China, Kazakhstan, Uzbekistan, Vietnam, Indonesia, Malaysia and Thailand by 2026.
According to Grand View Research, the global nuclear medicine market size was estimated at USD 9.1 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 11.8% from 2023 to 2030.
The future enterprise will comply with all industry 4.0 standards encompassing full automation of all enterprise processes and artificial intelligence operation. The company's goal is to be the first to implement the concept of such a production unit in Hong Kong.
Rafarma Pharmaceuticals thanks Long Sheng Pharma Limited for its cooperation and expresses its confidence in the fruitful development of joint projects.
ABOUT LONG SHENG PHARMA
Long Sheng Pharma was established on September 12, 1995, as a subdivision of the Chinese State Pharmaceutical group. It manufactures and sells pharmaceutical equipment, raw materials, and petrochemicals. The focus company areas are active pharmaceutical ingredients (API), pharmaceutical packaging for liquid and solid forms, hi-tech pharmaceutical equipment and after-sale service solutions and regulatory submissions assistance (medical devices, API, FDF).
For more information, please visit https://longshengpharma.com
ABOUT RAFARMA PHARMACEUTICALS
Rafarma Pharmaceuticals is a diversified pharmaceutical company dedicated to the new treatments and solutions development for patients in various fields. Regularly cooperating with leading research institutes and pharmaceutical companies around the world, the business has earned a reputation as a reliable manufacturer and distributor. Rafarma Pharmaceuticals has more than 25 programs in molecular biology, nuclear medicine, immunology, sustainable packaging, and many other fields at the moment.
For more information, please visit https://www.noyarp.com
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Source: Rafarma Pharmaceuticals, Inc.