Novartis to build plant in Zhejiang, to speed up cancer treatment
Pharmaceutical giant Novartis has announced its second production site in China, which is located in neighboring Zhejiang Province, as the multinational corporation shows confidence in the burgeoning development momentum of the Yangtze River Delta Region.
As a further step to speed up its introduction of its latest cancer treatment, the drug giant said total investment is expected to exceed 600 million yuan (US$84.6 million) at its new radiopharmaceutical production site to be operational by 2026.
The new facility adds to the drug giant's existing site in Beijing's Changping district which was set up in 1987 with 700-million-yuan investment and maximum production capacity of 3 billion tablets.
The company said it aimed at accelerating the introduction of innovative radioligand therapy into the country to benefit domestic cancer patients.
Novartis is already carrying out an international multi-center clinical study on a targeted radioligand therapy for certain type of metastatic prostate cancer in China, which was approved last year by the United States Food and Drug Administration.
Ingrid Zhang, president & managing director of Novartis China, said the site marked a crucial step in accelerating the introduction of radioligand therapy in China, and would also contribute to the development of the nation's nuclear medical industry, thereby fostering the long-term growth of the pharmaceutical and health-care industries.