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 pharmaceutical products.[2][3][4] HPGC medication offerings include traditional Chinese medicine (TCM) and biopharmaceuticals; its main offerings include antibiotics, including amoxicillin and penicillin, and dietary supplements, including zinc gluconate and calcium gluconate.[5]
The company owns both Renmintongtai (人民同泰), a drugstore chain and medical wholesaler 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 US$300 million, following GNC's filing for Chapter 11 bankruptcy. In September 2020, it wholly acquired the company for US$770 million.[6][7]
HPGC manufactures and distributes products for GNC China (known as ) under a joint venture, GNC (Shanghai) Food Technology Co., Ltd, formed in February 2019.[8]
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.[9]
Harbin Pharmaceutical Group No. 6 Factory is renowned for its magnificent architecture, splendid exterior, and strong European style, earning it the nickname "The Oriental Louvre." On January 16, 2024, Harbin Pharmaceutical Group Co., Ltd. announced through its official Douyin (TikTok) account that the factory would be open to the public, and the Printmaking Museum would offer free admission. On the opening day, Harbin No. 6 Pharmaceutical Factory welcomed more than 20,000 visitors, with many waiting in line for over an hour to enter. [10]
External links
References
- HPGC 2022 Semi-Annual Report Shanghai Stock Exchange, retrieved November 12, 2022^
- Harbin Pharmaceutical to issue RMB 800 mln short-term bonds news.alibaba.com, 10 November 2008, retrieved 2020-09-13^
- Katy Stech Ferek. Rubio Seeks Security Review of Chinese Bid for GNC Wall Street Journal, 2020-09-10, retrieved 2020-09-13^
- Alexandra Stevenson, Nicholas Kulish, David Gelles. Frantic for Coronavirus Gear, Americans in Need Turn to China's Elite The New York Times, 2020-04-24, retrieved 2020-09-13^
- Harbin Pharmaceutical Group Co Ltd - Company Profile and News Bloomberg.com, retrieved 2021-03-26^
- GNC Taps 5WPR For Consumer Business www.provokemedia.com, retrieved 2021-04-08^
- GNC, China's Harbin Pharmaceutical agree on sale price before auction New Hope Network, 2020-08-10, retrieved 2021-04-08^
- Liu Yukun, Yuanyuan Hu. Hayao picks 40% stake in GNC, to also form new JV China Daily, 2018-02-26, retrieved 2022-11-12^
- Qiwen Wang. 不止茅台，东阿阿胶、哈药等「国家企业技术中心」资格也被撤 The Paper, 2022-03-11, retrieved 2022-11-12^
- 记录中国｜哈药六厂翻红：游客自发挖掘成景，已接待90万人次_深圳新闻网^