Pfizer to invest about $350 million in China biotech facility, first in Asia
pharmafile | June 29, 2016 | News story | Research and Development, Sales and Marketing |ย ย Biotech Plant, China, Pfizer, researchย
US pharma giant Pfizer (NYSE: PFE) said it will invest about $350 million for a global biotechnology center in the Hangzhou Economic Development Area in China.
The company said the plant will be its third biotechnology center globally and the first in Asia. The establishment of the Pfizer global biotechnology center also represents further investment in R&D and clinical research across China.
John Young, group president, Pfizer Essential Health, said: โWe believe that the Pfizer Global Biotechnology Center in Hangzhou will help support Chinaโs aim to increase the complexity and value of its manufacturing sector by 2025, and contribute to building a truly innovative and vibrant biopharmaceutical industry.โ
The plant will include an advanced modular facility by GE Healthcare (GE), based on flexible single-use bio-manufacturing technology.
The facility is expected to be completed in 2018.
Pfizer said that the center will create more than 150 jobs and establish local biotechnology expertise.
Anjali Shukla
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