AstraZeneca to establish $200m facility in China
17 Oct 2011
London — AstraZeneca is investing $200 million to establish a new manufacturing facility in China Medical City (CMC), Taizhou, Jiangsu province, China, the company has announced.
The project, which represents AstraZeneca’s largest ever investment in a single manufacturing facility globally, will produce both intravenous and oral solid medicines for the company’s growing business in China. Construction of the site is scheduled to be completed at the end of 2013.
The manufacturing facility will enable AstraZeneca to meet the growing demand for its products in China while expanding availability to people in the urban and rural communities who traditionally have had limited access to established medicines.
AstraZeneca claims to be one of the leading biopharmaceutical companies in China, with a turnover of more than $1 billion in 2010.
The Chinese pharmaceutical market grew from $10 billion in 2004 to $41 billion in 2010 and, according to IMS, is expected to grow to over $100 billion by 2015, driven by government investment in improving healthcare infrastructure and expanding insurance coverage.
CMC integrates functional zones in R&D, pharmaceutical and medical device manufacturing, exhibition and trade, healthcare service, advanced education, and other supportive functions and facilities.
