Big Pharmaceuticals Seek New Prescription for China Sales
(Beijing) — Multinational drugmakers are pouring hundreds of millions of dollars into new production and research operations in China to expand their foothold in the world’s fastest-growing health care market, even as the government demands sharply lower prices.
In mid-November, German drug giant Bayer AG said it would invest 100 million euros ($104 million) to double its drug packaging capacity in Beijing, creating the largest such Bayer plant in the world. Two weeks earlier, Germany’s Merck Group agreed to invest 170 million euros in a drug factory in Nantong, Jiangsu province. By 2021, it will be Merck’s largest facility outside Europe, producing 10 billion pills a year.
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