Aurisco Pharmaceuticals Co Ltd makes an initial public offering on the main board of the Shanghai Stock Exchange on Sept 21. [Photo provided to chinadaily.com.cn]

Aurisco Pharmaceuticals Co Ltd made an initial public offering on the main board of the Shanghai Stock Exchange on Sept 21, according to local media reports. 

It is the eighth company based in Tiantai county in Taizhou to be listed, bringing the total number of listed companies in Taizhou to 59. 

This year to date, four companies based in Taizhou have made IPOs.

Founded in 1998, Aurisco is a pharmaceutical enterprise mainly engaged in the R&D, production and sales of active pharmaceutical ingredients (APIs), intermediates and formulations among other drugs. 

Among them, sales of eplerenone ranked first globally, while fluticasone propionate comes in second worldwide in sales volume. More than 95 percent of the company's products are sold abroad in Europe, South America, North America and Asia.

From January to June, its business income stood at 382.68 million yuan ($55.46 million), representing a year-on-year growth of 33.34 percent. 

The listing helped the company raise a total of 343.17 million yuan. 

In recent years, the Tiantai government has begun a campaign to mobilize local enterprises to list via stock reform. Currently, there are still two companies based in the county lined up for IPOs.