AsianScientist (Apr. 11, 2014) – Pharmaceutical group Bayer HealthCare will invest around EUR100 million (US$139 million) to significantly increase the production capacity of its plant in Beijing, China, in preparation for further demand of its products in the country.
The agreement was signed in Germany on the occasion of the visit of the President of the People’s Republic of China, Xi Jinping. The planned capacity expansion is designed to ensure a reliable supply of high-quality products to meet the domestic demand for Bayer HealthCare’s products including the company’s cardiovascular and anti-diabetes products. The expansion will include logistics areas for fully automated material handling, analytical laboratories, and high-speed packaging lines.
“This investment will make Beijing the largest pharmaceuticals packaging site in Bayer HealthCare´s global production network,” said Dr. Olivier Brandicourt, CEO of Bayer HealthCare.
Bayer is the fourth-largest multinational pharmaceutical company in China, with more than 7,000 employees and production sites in Beijing, Guangzhou, Chengdu and Qidong. The company has already established a center for research and development in Beijing with investments of around EUR100 million.
For the Bayer Group, Greater China is the largest single market in Asia, accounting for sales of around EUR 3.7 billion in 2013. Currently more than 13,000 people work for the Bayer Group in China, which is also among the major focusses of the company’s global investment.
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Source: Bayer Group; Photo: Erich Ferdinand/Flickr/CC.
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