A clinical stage biopharmaceutical company developing targeted therapeutics for cancer and hepatitis C virus infection treatments - Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM) – has recently established its wholly foreign-owned enterprise (WFOE) in China.
Located in Beijing, the new subsidiary is called Peregrine Beijing Pharmaceuticals Technology Development Ltd.
According to Steven W. King, president and CEO of Peregrine:
Find more details from the press release."The Chinese pharmaceutical market is currently the ninth largest in the world and is growing rapidly, doubling in size in the past five years with continued robust expansion expected.
China therefore represents an important strategic market opportunity for Peregrine, and our new wholly owned subsidiary will give us the opportunity to leverage our products and technology in this market.
China also represents a tremendous resource for drug discovery and development, and we intend to explore all options for the development of our product candidates in China."
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