AstraZeneca Plans New $200M Manufacturing Facility in China
The new site will produce both intravenous and oral solid medicines and will enable AstraZeneca to meet the growing demand for its products in the country.
AstraZeneca announced Monday a $200 million investment in a new manufacturing facility, located in China Medical City (CMC), Taizhou, Jiangsu province. Construction of the site is scheduled to be completed at the end of 2013.
The new site, 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.
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.
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