China National Pharmaceutical Group Corporation (Sinopharm) has agreed to sell Reed Exhibitions a 50 per cent share in its subsidiary, the China Pharmaceutical Exhibition Corporation.
The new joint venture will be called Reed Sinopharm Exhibitions. Sinopharm is the leading Chinese company in the research and development, manufacture and distribution
of pharmaceuticals and medical instruments.
CPEC is China's leading organiser of trade shows and events for pharmaceutical products, medical devices and other healthcare products.
Reed Exhibitions is a subsidiary of Reed Elsevier, a leading global publisher of scientific, medical, educational, legal and businessto-business content.
Mike Rusbridge, chairman and chief executive of Reed Exhibitions, said of the deal: "The combination of our existing exhibition portfolio and this new joint venture firmly positions Reed Exhibitions among the leading organizers in China."
Reed wins giant pharmaceutical contract in China
BEIJING China's largest pharmaceutical company and Reed Exhibitions have agreed on a major joint venture in the Chinese exhibition industry.