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ShangPharma tries to end market confusion over name

29-May-2012
Last updated on 29-May-2012 at 13:15 GMT

Chinese CRO ShangPharma wants to end “confusion in the market” by distancing itself fromShanghai Pharmaceuticals Holdings.

A statement posted today by preclinical CRO (contract research organisation) ShangPharma seeks to end reports of confusion between itself and the Chinese pharmaceutical company Shanghai Pharma.

ShangPharma has no affiliation with Shanghai Pharmaceuticals Holdings Co, Ltd. While the names are similar in English, the Chinese character 'Shang' in ShangPharma is different than the character in 'Shanghai Pharmaceuticals Holdings Co, Ltd”, a spokesperson for the Chinese CRO said.

The clarification comes days after Shanghai Pharma hit back at allegations of falsified accounting. “The company has not received any notice from the CSRC or the Hong Kong Stock Exchange on any investigation into the accounting or other matters of the company”, Shanghai Pharma said.

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