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Hengrui Medicine And Hansoh Pharmaceutical To Set Up Pharmaceutical R&D Base

This article was originally published in PharmAsia News

Executive Summary

Jiangsu Hengrui Medicine and Jiangsu Hansoh Pharmaceutical recently began construction of their co-funded pharmaceutical industry park in Lianyungang Economic and Technological Development Zone. The two Jiangsu companies will jointly invest RMB 3 billion ($439 million) to build a U.S. and EU standards-compliant pharmaceutical formulation plant, office building, R&D center and auxiliary facilities. Covering an area of 40 hectares, the base will build workshops for formulations of solid, freeze-dried powder and injections, transfusion fluids, contrast agents and bioproducts. The RMB 1.2 billion ($175 million) phase I project is targeted to finish by 2011, while the entire project will be completed within five years. The two companies plan to launch five to six Class I new drugs of original IP rights in the next five years. (Click here for more - Chinese Language)

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