Huifeng Bio-Pharmaceutical Technology, a Chinese developer and producer of plant extracts and pharmaceutical raw materials for use in pharmaceutical, nutraceutical and food production, has said that it has entered into a five-year supply agreement with Sichuan Huafamei Enterprise, a division of Safic Alcan Group.
"We are pleased to enter into this new agreement with Safic Alcan," said Mr Jing'An Wang, CEO of HFGB. "Safic Alcan is committed to developing their presence in the European pharmaceutical industry. They appreciate the quality of the products we can provide and we look forward to working with them on our Diosmin Product line." The supply agreement between HFGB and Safic Alcan grants Safic Alcan exclusive rights to market Diosmin in the European market and calls for minimum guaranteed quantities of Diosmin to be delivered by HFGB to Safic over each of the five years of the contract, which is renewable for an additional 5 year term with mutual consent of both parties. The minimum quantity of Diosmin to be delivered in year one is 50 tons, increasing yearly to at least 500 tons in the last year of the contract.