[Yicai Global] Jun 15--Tiansheng Pharmaceutical Group Co. (SHE:.002872) will invest about USD60 million (CNY410 million) in two drug research and development and production projects to improve processing of traditional Chinese medicinal materials and fill the gaps in bulk chemical drug production.

The company will spend CNY150 million to build a Chinese herbal medicine industrialization project with annual output of 5000 tons in Qianjiang district, in China's southwestern city of Chongqing. It will invest CNY260 million in a bulk chemical drug good manufacturing practice (GMP) construction project in Chongqing's Changshou Economic and Technological Development Zone through its wholly-owned subsidiary, Chongqing-based Tiansheng Pharmaceutical said in a recent statement. GMP refers to production facilities which conform to World Health Organization (WHO) pharmaceutical production quality control standards.

Construction on both two projects will break ground in July, and will last two years. Tiansheng Pharmaceutical listed on the A-share market last month. It is a pharmaceutical firm focusing on the production of oral solid dosage forms and injection medicines.