Zhejiang Huahai Pharmaceutical Co Ltd. [Photo provided to chinadaily.com.cn]

Zhejiang Huahai Pharmaceutical Co Ltd has been striving to develop by boosting innovation among R&D personnel in the company.

A science and technology festival consisting of forums, lectures and an award presentation ceremony was recently held in the company, with the aim of boosting academic exchange among R&D departments.

Some R&D personnel from the company were honored for their excellence during the festival.

Huahai is China's largest pharmaceutical preparations exporter to the European and American markets, with more than 40 of its preparations being listed in the US.

The company was founded in 1989 and went public on the Shanghai Stock Exchange in 2003.

The company's accomplishments could not have been achieved without talent, according to Chen Baohua, CEO of Zhejiang Huahai Pharmaceutical Co Ltd.

A total of 23 varieties of medicine produced by the company have passed the national generic drug consistency assessment, among which 12 have been listed among drugs under national medicine insurance coverage.

In addition to the festival, the company has also established two organs to stimulate innovation among employees so as to accelerate the pace of technical transformation and upgrading.

The festival also saw the company reach strategic partnerships with China Pharmaceutical University, the School of Pharmacy at Zhejiang University and Hangzhou Jitai Pharmaceutical Co Ltd.