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November 27, 2009

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Bio-pharm gets a lift in Pudong med zone

SHANGHAI Pharmaceutical Group will invest at least 2 billion yuan (US$293 million) to build a bio-pharmaceutical production and research center in a medical zone in Pudong New Area, officials said yesterday.

The company signed a cooperation contract with the government to locate its manufacturing, logistics and operations center in the Shanghai International Medical Zone.

Construction will comm-ence on a 1.5-square-kilometer area next year in two phases. The 2 billion yuan investment will be for the first phase of the project.

The group expects to generate a batch of new products in the zone and estimates production will exceed 10 billion yuan by 2012.

The new development will join at least a dozen other pharmaceutical companies taking part in the zone, which was launched in the former Nanhui District in 2005 with an aim to become a leading medical center for Asia.


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