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Bermuda company set to develop Chinese pharmaceutical market

A Bermuda-based company established to market pharmaceuticals in China has begun operations.Massachusetts-based T Cell Sciences Inc. said on Wednesday that Global Pharma Ltd. has completed a first round of financing and has received approval to operate in China.

A Bermuda-based company established to market pharmaceuticals in China has begun operations.

Massachusetts-based T Cell Sciences Inc. said on Wednesday that Global Pharma Ltd. has completed a first round of financing and has received approval to operate in China.

The company, which was incorporated one year ago, has also established a joint venture in Shen Yang, China, said T Cell marketing and communications development manager Ms Susan Primrose.

"Global will expand and extend the uses and markets for Chinese government approved ethical pharmaceuticals within China, and select and acquire unrecognised Chinese pharmaceuticals for development in other markets in the world,'' the company said.

T Cell's vice chairman Mr. Patrick Kung will be president and chairman of Global.

"T Cell has invested biotechnology and business development to support Mr.

Kung in the creation of Global Pharma,'' said T Cell president and CEO Mr.

Alan Tuck.

The first product to be marketed will be an approved ethical pharmaceutical for the treatment of hypertension and microcirculation problems. It is a synthetic copy of an active ingredient in a Chinese herb, used in China for centuries.