Asia Attracts Manufacturing Capital As Companies Eye Expanding Needs
Life science and pharma companies have been actively investing in Asia over the past month as they look to increase regional manufacturing capacities to tap into burgeoning markets and meet rising demand for new technologies, biologics and high-quality products, while Chinese firms have also been expanding their international presence.
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WuXi Biologics is aiming high to become the world’s biggest biologics manufacturer within five years after seeing strong confidence from capital markets in its growth potential and a boost from its new biologics manufacturing facility. The Chinese company plans on more investment in early 2018 to prepare for an expected biologics surge in China, its chief executive tells Scrip.
Novartis' efforts to rationalize and centralize its drug discovery programs will see the Novartis Institute for Tropical Diseases moved from Singapore to California and the closure of biologics units in Shanghai and in the Swiss town of Schlieren.
Helped by Shanghai’s supportive policies to attract talent to back its transformation into a global innovation center by 2030, Novartis recently opened its global third-largest R&D center in the city, as part of a strategy to develop new compounds locally for the worldwide market by tapping into local expertise.