There is mention of another deal on May 2006 where Alpharx subsidiary AIH would take only a 30% ownership but, would not incure any building and other costs. The last line says there were delays. The last PR means they have worked through the issues and are moving forward. The question is are they going it alone and incuring the costs or the more likley second option below allowing another larger company to do the heavy lifting.
"On May 1, 2006 we announced that AIH has entered into an agreement with China Lianyungang City Golden Enterprises Limited ("China Party") to establish a Joint Venture in mainland China. The Joint Venture intends to establish a manufacturing facility in Lianyungang City, Jiangsu Province and a distribution network in order to manufacture and market pharmaceutical products licensed by AIH. In addition AIH will help to develop branded generic products in lieu of capital payment into the Joint Venture. China Party has agreed to inject working capital of RMB 250 million (approximately $USD 31 million) into the Joint Venture in the form of equity. AIH will own 30% of the Joint Venture common stock and China Party will own 70%. AIH is also to receive a 5% royalty on all AIH licensed product sales generated by the Joint Venture. Delays are being experienced in obtaining the appropriate operating licenses, and permits from the government in order to commence building construction."
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