The board of China’s Renhe Pharmaceuticals Co., Ltd. agreed to develop a broad-based industrial hemp project and three other initiatives in the medical sector. Projects approved by the board in a meeting last week included the Renhe Xianghe Industrial Hemp Comprehensive Utilization Industry Project, upgrades for a project in traditional Chinese medicines, development of a smart medicines logistics park, and construction of an R&D center. The total investment for the four projects is 71,279,500 yuan (~€9 million/$~10.5), which was raised in a non-public stock offering earlier this year.
Chinese pharma giant backs hemp project
Support HempToday with a donation
We appreciate our paying subscribers and strive to deliver the most complete, well-researched and comprehensive news, analysis and commentary about the hemp industries. If you’d like to further support us, click below to make a donation.