Chinese firm plans ‘first-in-class’ biologics after $325m manufacturing investment
The Chinese company announced that the expansion of the project is with the aim to create its own first-in-class biologic drugs – targeting developing treatments within oncology, cardiovascular and cerebrovascular
Phase one of the project saw the creation of a ¥1.2 billion facility that produces pancreatic kininogenase, heparin sodium and low molecular weight heparin, as well as compound digestive enzyme preparations and asparaginase. In 2017, the facility had sales revenue of ¥1 million.
The ¥1 billion ($145m) investment will see Changzhou Qianhong Bio-pharma add the production capacity to create 200 million tablets and 60 million injections at its facility. In addition, the facility will be able to produce molecular diagnosis reagents.
Products manufactured at the phase one facility are exported to more than 20 provinces across China, as well as international markets.
The investment comes amid an increase in the scale of China’s biologics manufacturing capabilities.
Internally, WuXi Biologics has begun a number of build-outs, which CEO, Chris Chen, told us is required to meet the growing demand for the manufacture of biologics. While companies based outside of the country, such as GE Healthcare and Sanofi, are also tapping into the potential of the Chinese market.
