AstraZeneca increases investment in China with new $200 million manufacturing facility
Monday, 10 October 2011
AstraZeneca today announced a $200 million investment in a new manufacturing facility, located in China Medical City (CMC), Taizhou, Jiangsu province. 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. Construction of the site is scheduled to be completed at the end of 2013.
The new manufacturing facility will enable AstraZeneca to meet the growing demand for its products in China while expanding availability to people in the urban and rural communities who traditionally have had limited access to established medicines.
Mark Mallon, President, AstraZeneca China, said: "AstraZeneca has been putting down deep and broad roots in China for many years, which will be further strengthened by this $200 million investment. Our new manufacturing facility will complement our efforts to meet the medical needs of Chinese patients with medicines that are locally produced. In particular, it will help us to reach out to more of the estimated 900 million people in urban and rural communities who have had less access to high quality medicines."
Since first establishing a presence in China in 1993, AstraZeneca has fast become one of the leading biopharmaceutical companies in the country, with a turnover of more than $1 billion in 2010. The new manufacturing facility at CMC reinforces AstraZeneca's long term commitment to the country and its contribution to the Chinese economy.
AstraZeneca's direct investments in local capabilities to help deliver innovative medicines to Chinese patients and healthcare services to physicians include:
A state-of-the-art manufacturing and supply site in Wuxi New District, Jiangsu Province;
The AstraZeneca Innovation Centre China (ICC) - a leading-edge translational science centre targeting, among others, biomarker research into cancer therapies specifically relevant for Chinese and Asian patients. The ICC is one of AstraZeneca's most advanced scientific research hubs outside the UK, Sweden and US;
An established sales and marketing operation;
Large scale clinical development capabilities; and,
An extensive network of collaborations with leading academic and medical institutions.
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.
NOTES TO EDITORS
About China Medical City (CMC)
China Medical City, (also known as Taizhou Medical Hi-Tech Zone) is located in Taizhou City, Jiangsu Province in eastern China. CMC integrates functional zones in R&D, pharmaceutical and medical device manufacturing, exhibition and trade, healthcare service, advanced education, and other supportive functions and facilities.
Sanctioned and sponsored by the Ministry of Science and Technology, Ministry of Health, the State Food and Drug Administration (SFDA), State Administration of Traditional Chinese Medicine and Jiangsu Provincial Government, CMC is regarded as the only national level hi-tech development zone focusing exclusively on the biomedical field.
To date, CMC has formed partnerships with leading pharmaceutical R&D institutions and universities, both domestically and overseas.
About AstraZeneca in China
AstraZeneca is one the leading biopharmaceutical companies in China providing innovative, high quality medicines for some of the most serious disease areas and therapies, including cardiovascular, gastrointestinal, respiratory, neurological, cancer, inflammation and anesthesia.
AstraZeneca's turnover in China was over $1 billion in 2010. The company employs approximately 5,000 staff working in manufacturing, sales and marketing, clinical research and new product development at the company's headquarters in Shanghai and across sites in mainland China and Hong Kong. Among AstraZeneca's key products in China are Losec, Betaloc, Plendil, Nexium, Crestor, Symbicort and Iressa.
AstraZeneca is a global, innovation-driven biopharmaceutical business with a primary focus on the discovery, development and commercialisation of prescription medicines for gastrointestinal, cardiovascular, neuroscience, respiratory and inflammation, oncology and infectious disease. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information please visit: www.astrazeneca.com
Esra Erkal-Paler +44 20 7604 8030 (24 hours)
Isabelle Jouin +44 20 7604 8031 (24 hours)
Investor Enquiries UK
Karl Hård +44 20 7604 8123 mob: +44 7789 654364
Nicklas Westerholm +44 20 7604 8124 mob: +44 7585 404950
Investor Enquiries US
Ed Seage +1 302 886 4065 mob: +1 302 373 1361
Jorgen Winroth +1 212 579 0506 mob: +1 917 612 4043