On October 15, 2013, Fosun Pharma and Shanghai University of Traditional Chinese Medicine (SUTCM) signed an industry-university-research strategic cooperation agreement in the Administrative Center of SUTCM, formally establishing a strategic partnership. Chen Qiyu, Chairman of Fosun Pharma, Wang Cheng, Senior Vice President of Fosun Pharma and President of Fosun Pharmaceutical Development Co., Ltd., Fu Jiemin, Senior President Assistant of Fosun Pharma and Senior Vice President of Fosun Pharmaceutical Development Co., Ltd., Chen Kaixian, Principal of SUTCM, He Xinghai, Deputy Secretary of SUTCM and other leaders, together with two special guests, Zhang Huaiqiong, Director of Shanghai Health and Family Planning Commission and Deputy Director of Shanghai Traditional Chinese Medicine Development Office, and Chen Kai, the researcher from Shanghai Municipal Education Commission Science and Technology Department jointly attended the signing ceremony.

Fosun Pharma and SUTCM will cooperate in new drug development, platform construction, technology upgrading, personnel training in the principle of “Sincere and Win-Win Cooperation, Strengthen Exchange, and Seek Common Development”. Chairman Chen Qiyu and the Principal Chen Kaixian signed the cooperation agreement and addressed the ceremony respectively. President Chen said "it’s a far-sighted strategic cooperation agreement.” He said that Fosun Pharma is a leader in China's pharmaceutical industry and is also in the forefront of the industry with its study mechanisms and concepts. SUTCM is glad to cooperate with Fosun Pharma, which not only brings new opportunities for the university’s industry-university-research development but also contributes to the development of traditional Chinese medicine industry of Fosun Pharma.

SUTCM, founded in 1956, is one of the first four Chinese universities established after birth of new China. It has strong scientific research strength, and ranked the 1st among national medical colleges in 2012. SUTCM has three affiliated Class III Grade I hospitals, i.e. Shuguang Hospital, Longhua Hospital, and Yueyang Hospital of Integrated Chinese and Western Medicine. Principal Chen Kaixian is an academician of Chinese Academy of Sciences, and now he is the convener of discipline appraisal group (pharmacy) of Academic Degrees Committee of the State Council, Vice Technician of the national special technology project "Significant New Drugs Development”, executive member of the State Pharmacopoeia Commission, and a member of State Science and Technology Award Evaluation Committee. At present, SUTCM has more than 40 outstanding new drug projects including clinically approved, basically pre-clinical-completed, and preclinical ones. Hundreds of preparations from the three affiliated hospitals and famous old TCM doctors’ prescriptions are available for screening and development. The R&D companies affiliated by the university have R&D labs, herbal extracts and formulation workshops, and passed the GMP certification.

Previously Fosun Pharma has been an executive director unit of Traditional Chinese Medicine Industry-University-Research Cooperation Center of SUTCM with Fu Jiemin, Fosun Pharma Senior President Assistant as the center director. The signing will drive more comprehensive and deeper cooperation between both parties. Chen Qiyu is full of confidence in future cooperation. He said: “Traditional Chinese Medicine R&D is a new strategic direction of Fosun Pharma. We really appreciate this opportunity to cooperate with Shanghai University of Traditional Chinese Medicine. Fosun Pharma has gained experience in chemical drugs and biopharmaceuticals after years of development. The traditional Chinese medicine research and innovation will also become an important topic of Fosun Pharma and is promising”. Meanwhile, he hopes both parties can gradually expand cooperation to other fields such as medical service, pension health, and integrative medicine, contributing to the development of traditional Chinese medicine industry.