Pfizer, Inc., the American giant that is one of the world's largest pharmaceutical companies, is investing some US$350 million to build a Global Biotechnology Center at the Hangzhou Economic and Technological Development Area (HEDA) in China.

The Hangzhou facility will be Pfizer's third biotechnology center globally and the first in Asia. HEDA is located in the eastern urban area of Hangzhou City, on the north bank in the lower reaches of the Qiantang River.  

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Pfizer said the biotech hub will produce high-quality and affordable biosimilar medicines for China and the world. Biosimilar medicines, which are not the same as generics, refer to generic versions of drugs where the active ingredient is made only by an engineered organism.

The Hangzhou facility will focus on producing biologic drugs, or those made from living micro-organisms rather than chemically synthesized, and lower-cost biosimilars of generic versions of biologics.

It will house Pfizer China's Biosimilars and Biologics Quality, Technical Service; Logistics and Engineering divisions and commercial manufacturing. It will also serve as a process development and clinical supply site. It will also include an advanced modular facility by GE Healthcare.

The facility is expected to be completed in 2018. When operational, it will represent Pfizer's further investment in R&D and clinical research across China, and will create some 150 jobs.

The Hangzhou facility should "help support China's aim to increase the complexity and value of its manufacturing sector by 2025," said John Young, group president for Pfizer's essential health division.

He said Pfizer would "work closely" with local regulators to bring the drugs "to market as soon as possible."

China's overall healthcare spending is estimated to rise to $1.3 trillion by 2020, but drug market growth has slowed as branded generics have lost their popularity.

Pfizer develops and produces medicines and vaccines for a wide range of medical disciplines, including cardiology, immunology, oncology, diabetology / endocrinology and neurology.

TagsPfizer, Inc., Global Biotechnology Center, Hangzhou Economic Development Area