AstraZeneca Invests US$200m Into Manufacturing Facility In China Medical City

AstraZeneca today announced a US$200 million investment in a new manufacturing facility, located in China Medical City, Taizhou, Jiangsu province in Eastern China.

AsianScientist (Oct. 10, 2011) – AstraZeneca today announced a US$200 million investment in a new manufacturing facility, located in China Medical City (CMC), Taizhou, Jiangsu province in Eastern China.

China Medical City – also known as Taizhou Medical Hi-Tech Zone – represents AstraZeneca’s largest ever investment in a single manufacturing facility globally, and will produce both intravenous and oral solid medicines for the company’s growing business in China.

Sanctioned and sponsored by the Ministry of Science and Technology, Ministry of Health, the State Food and Drug Administration (SFDA), State Administration of Traditional Chinese Medicine, and Jiangsu Provincial Government, CMC is regarded as the only national level hi-tech development zone focusing exclusively on the biomedical field.

Construction of the site is scheduled to be completed at the end of 2013.

Mark Mallon, President, AstraZeneca China, said:

“AstraZeneca has been putting down deep and broad roots in China for many years, which will be further strengthened by this $200 million investment. Our new manufacturing facility will complement our efforts to meet the medical needs of Chinese patients with medicines that are locally produced. In particular, it will help us to reach out to more of the estimated 900 million people in urban and rural communities who have had less access to high quality medicines.”

Since first establishing a presence in China in 1993, AstraZeneca has fast become one of the leading biopharmaceutical companies in the country, with a turnover of more than US$1 billion in 2010.

Other direct investments by AstraZeneca in China include a state-of-the-art manufacturing and supply site in Wuxi New District, Jiangsu Province; the AstraZeneca Innovation Center China (ICC); an established sales and marketing operation; large scale clinical development capabilities; and an extensive network of collaborations with leading academic and medical institutions.

The Chinese pharmaceutical market grew from US$10 billion in 2004 to US$41 billion in 2010 and, according to IMS, is expected to grow to over US$100 billion by 2015, driven by government investment in improving healthcare infrastructure and expanding insurance coverage.


Source: AstraZeneca.
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