|4 July 2016|
Pfizer will open a state-of-the-art Global Biotechnology Centre in China next year.
It will invest approximately USD$350 million in the development at the Hangzhou Economic Development Area (HEDA) in China.
The innovative facility will be Pfizer’s third biotechnology centre globally and the first in Asia. It will ensure the local production of high-quality, affordable biosimilar medicines that will benefit patients both in China and throughout the world.
“We believe that the Pfizer Global Biotechnology Centre in Hangzhou will help support China’s aim to increase the complexity and value of its manufacturing sector by 2025, and contribute to building a truly innovative and vibrant biopharmaceutical industry,” said John Young, Group President, Pfizer Essential Health.
“We are encouraged by a series of important reforms introduced by Chinese government that will further stimulate the industry to meet emerging health challenges, such as the rising incidence of non-communicable diseases and an aging population; as well as attract both domestic and foreign investment in healthcare and R&D.”