With the help of MNCs, China is slowly building up its reputation as a legitimate producer of drugs and a centre for drug R&D. Since China's WTO entry, nearly all multi-national pharmaceutical companies completed their accession into the Chinese market and are now shifting focus to drug innovation. Many of these companies have established joint venture manufactories in China.
Novo Nordisk, an MNC based in Denmark and the first international biopharmaceutical company to establish R&D in China, is now taking a step forward by investing an additional USD 100 million to expand its state-of-the-art science facilities in Beijing. Currently, the company employs around 3000 employees in China including 130 scientists at the R&D centre. The new site, located on a 12,000 metres square campus, will accommodate 200 scientists with potential to expand further.
With this expansion, Novo Nordisk also fulfils its key strategic objective to ensure the full range of protein research capabilities in China. The site in Beijing has already contributed significantly to the company’s R&D portfolio in both diabetes and biopharmaceutical target disease areas. The new, expanded facility will enable even stronger contributions from the science team in China.
“Novo Nordisk recognizes the strong science being performed in China and we want to bring innovation from Chinese scientists into our company to help tackle the growing burden of diabetes and other chronic diseases throughout the world,” says Mads Krogsgaard Thomsen, chief science officer and executive VP of Novo Nordisk.
What a boost for Drug Discovery in in Asia. To learn more about opportunities in pharmaceutical markets in China and other Asian countries, do consider attending the BioPharma Asia Convention 2013 at Singapore in March next year. We have a specified conference track called Pharma Partnering & Investment World Asia where you can receive experts' advice on how to execute different investment, joint ventures and cross border collaboration strategies to fit the Asian context.
Source: World Pharma News