Reed Exhibitions, Sinopharm form joint venture to produce events in China

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Beijing—Reed Exhibitions and China National Pharmaceutical Corp. (Sinopharm) will partner in a joint venture to produce events for the pharmaceutical and medical industries in China.

 Under the terms of the agreement, Sinopharm has agreed to sell a 50% share of its subsidiary, China Pharmaceutical Exhibition Corp., to Reed Exhibitions and to form a new joint venture called Reed Sinopharm Exhibitions Co. Ltd.

CPEC is China ’s leading organizer of trade shows and events for pharmaceutical products, medical devices and other health care products.

Management of the joint venture will include executives from both partners reporting to a board of directors.

In a statement announcing the partnership, Mike Rusbridge, chairman-CEO of Reed Exhibitions, said, “This investment marks an important step in the development of our business in China.”

—Kate Maddox

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