PREMIER Pacific Pharmaceutical Industrials (PPPI) is seeking to raise A$40 million (about HK$238 million) through a listing on the Australian Stock Exchange later this month. One of China's major integrated pharmaceutical companies, PPPI is the holding company for three businesses based in Tianjin. They include one of the country's largest wholesale pharmaceutical distribution firms and an interest in the SmithKline Beecham joint venture. PPPI has an 80 per cent stake in wholesale distribution company Tianjin Medical, which in turn holds a 20 per cent interest in a Sino-foreign equity joint venture with SmithKline Beecham. It also holds an 80 per cent interest in Hebei Pharmaceutical, a manufacturer of vitamin B2 and anti-cancer drug Bleomycin. The sixth company involving China or Hong Kong businesses to float on the Australian exchange, PPPI claims to be the largest and the market leader in its field.
