A. Strategic Objectives
The development strategic objectives of Pegasus Pharmaceuticals Group Inc. (“Pegasus”) are headed by novel drug development which is supported by clinical applications and preventive medicines driving life sciences research, health education and training, senior care, and production of Active Pharmaceutical Ingredients (API). Pegasus is working towards becoming a world-renowned enterprise in the biomedical and pharmaceuticals industry.
B. BioPark Development Plan
Based on these strategic objectives, Pegasus is planning to develop a large scale BioPark. The whole park will be divided into two parts, the "Pegasus Production Zone" and "Pegasus Life Sciences City". The project will be divided into three phases.
1. Pegasus Production Zone. This zone will cover about 1.1 million square meters of land. The zone will be developed in two phases with a total investment of 800 million U.S. dollars. 150 million U.S. dollars will be invested in the first phase of development which had started in the second half of year 2009 and is expected to be completed by year 2012 (at the same time, the R&D center built in the same period will also start operation). The part of the zone developed in the first phase is expected to generate an annual output of 2.5 billion U.S. dollars worth of active pharmaceutical ingredients (API), pharmaceutical and natural health products. 650 million U.S. dollars will be invested in the second phase which is expected to be completed by year 2017 and to generate an annual output of more than 10 billion U.S. dollars worth of products.
2. Pegasus Life Sciences City. Pegasus Life Sciences City will be developed in three phases starting in year 2015. By 2025, a total of 20 billion RMB will be invested to create 10 square kilometers of artificial seashore (intertidal zone). Following facilities are the current development projects in this Life Sciences City:Pegasus Life Sciences Institute, Clinical Research Center, Preventive Medicine and Medical center, Pegasus Educational Center, Senior Home Care Demonstration Center, API Production Demonstration Garden, Fitness & Leisure Center, and Green Living Area.
C. Government Approval of the BioPark Project
On July 1, 2009, the municipal government of Dalian, Liaoning province, China approved the development project of Pegasus BioPark (Dalian) Co., Ltd. The BioPark site will be along the seashore of Zhuanghe City under the jurisdiction of Dalian, which is on the north shore of the Yellow Sea between the cities of Dalian and Dandong. The municipal government will provide 1.074968 million square meters of land, in which 240,000 square meters are approved for building plants and 250,000 square meters are for living area.
The BioPark project currently approved by the Dalian municipal government is the Phase I and II development of the Pegasus Production Zone.
The following is a digital photo of Pegasus BioPark. The Phase I and II development of the Pegasus Production Zone will be built in the site marked by the red box. The Phase III development of Pegasus Life Sciences City will be built in the site from under the red box to the seashore.
