The pharmaceutical industry in Hong Kong
The pharmaceutical industry in Hong Kong benefits from the location of the city at the heart of the Asian market but is somewhat limited in terms of space within the city to base large manufacturing plants and laboratories. Investors who want to open a pharmaceutical company in Hong Kong can base their operating offices within the city and their laboratories outside of the Special Administrative Region or even in Mainland China.
Hong Kong pays a lot of attention to quality control and safe manufacturing practices. The main regulatory body is the Pharmacy and Poisons Board and the law governing pharmaceutical practices is the Pharmacy and Poisons Ordinance, Cap. 138.
Our Hong Kong company formation agents can help you open a pharmaceutical company and make the necessary applications for registering a business in this field.
Registration for pharmaceutical companies in Hong Kong
Companies that want to activate in the pharmaceutical field need to obtain special permits and licenses. These permits can refer to the possibility to work with certain chemical products and drugs, to conduct research and development activities or others. Pharmacists in Hong Kong need to apply for registration with the Pharmacy and Poisons Board of Hong Kong and must also pass an examination before they can be registered.
Hong Kong pharmaceutical companies can also perform clinical trials. The number of these types of trials that are being conducted in Hong Kong rises every year. Some of the most important research areas are oncology and endocrinology. Pharmaceutical companies that conduct these trials in order to prove the efficiency of a particular drug must also obtain special permissions.
Our company formation representatives in Hong Kong can help you open a company that activates in the pharmaceutical sector. We will help you pick the right type of company for your business and hire employees to conduct clinical trials, R&D activities and others.
Hong Kong regulations for the pharmaceutical sector
Pharmaceutical companies in Hong Kong can become members of the Hong Kong Association of the Pharmaceutical Industry. Because the global pharmaceutical industry is turning its attention to their important business hub in Asia, Hong Kong will continue to adjust its legislation in order to deal with pharmaceutical issues and problems. Our partner lawyers in Hong Kong can help you understand the laws and regulations that govern these type of activities.
For more detailed information about company incorporation and taxes for legal entities, please contact our Hong Kong company formation specialists.