FedEx, the US-based operator of the world's largest cargo airline, will accelerate development of logistics services for sensitive medical and pharmaceutical products as it races to catch up with other established rivals in the China market.
Richard Smith, managing director for life sciences and specialty services at FedEx Express, said the company is in the process of expanding its facility for the health-related products at its Shanghai international hub.
The new facility is designed to meet China's specific demands for storage of medical devices, biological materials and pharmaceuticals, and to meet the distribution needs of pharmaceutical companies.
"Emerging economies, with their growing middle classes coupled with an aging population, are demanding a new level of healthcare akin to that of the developed world. To reach these new customers — often literally halfway around the world — a supply chain must be considerably more sophisticated," said Carl Asmus, vice-president of supply chain solutions and market development for FedEx.
To gain more market share, the company deployed its new Boeing 777F aircraft between the US and China in a bid to attract healthcare customers who need shorter transit times and later pickups.
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