Construction begins at Genovate Biotechnology's insulin Ecological Industrial Park in China's Changzhou National Hi-tech District
Genovate's target is to become China's first and the world's fourth largest insulin manufacturer.
Construction has begun of phase I of Genovate Biotechnology's Insulin Ecological Industrial Park began in Changzhou National Hi-tech District. Changzhou mayor Fei Gaoyun said the city and district governments and the relevant oversight authorities will do their best to provide support services, with the aim of doing what is needed to see construction completed and the facility put into production as early as possible.
Genovate Biotechnology (Changzhou) relocated to Changzhou Life and Heath Industrial Park in 2014. The plan to relocate was drawn up and initiated by a team led by Dr Shen Chun, an expert and consultant associated with China's nationwide Thousand Talents Plan, and co-invested by Changzhou Life and Heath Construction Development Co., Ltd. and BVCF, a life sciences-focused PE firm with 20 years of experience in investing in Silicon Valleys's bioindustry and the first overseas venture fund focusing on growth opportunities in the Chinese side of the sector. The company has exclusive ownership of the world's first insulin ecological commercialization and production technology. Genovate's target is to become China's first and the world's fourth largest insulin manufacturer, breaking the long-term monopoly held by three multinational giants in the Chinese and international insulin markets.
With a total investment of US$1 billion, Genovate's biologics project follows a plan based on a strategy that calls for a three-phased investment process meant to assure steady growth following the planning and design phase. Phase one of the facility, a 720,000 square-foot structure with an investment of 350 million yuan (approx. US$55 million), will contain a one ton fermentation tank production line, scheduled to be completed in 2018. Once construction is completed and the facility is put into full production, annual production is expected to reach 10 tons of insulin series products and APIs plus 1 billion bottles of preparations.
Changzhou National Hi-tech District is developing into an important cluster for the local pharmaceutical sector. With excellent transportation, comprehensive support from the local authorities and a first-class investment environment, the district has the beginnings in place for a new life sciences industrial park, attracting a number of renowned Chinese and foreign pharmaceutical makers.
Related News
-
News Patients vs Pharma – who will the Inflation Reduction Act affect the most?
The Inflation Reduction Act brought in by the Biden administration in 2022 aims to give better and more equitable access to healthcare in the USA. However, pharma companies are now concerned about the other potential costs of such legislation. -
News CPHI Podcast Series: What does the changing US Pharma market mean for industry and patients alike?
In this week's episode of the CPHI Podcast Series Lucy Chard, Digital Editor for CPHI Online is joined by James Manser to discuss the political and market changes in the US pharma field. -
News CPHI Barcelona Annual Report illuminates industry trends for 2024
The CPHI Annual Survey comes into it’s 7th year to report on the predicted trends for 2024. Over 250 pharma executives were asked 35 questions, with their answers informing the industry landscape for the next year, spanning all major pharma marke... -
News Which 10 drugs are open to price negotiation with Medicare in the USA?
The Centres for Medicare & Medicaid Services, under the Biden administration in the USA, has released a list of the 10 drugs that will be open to price negotiations as part of the new legislation under the Inflation Reduction Act (IRA). -
News EU Medical Devices Regulation causes unintended disappearances of medical devices for children, doctors state
Doctor groups and associations have appealed to the EU to correct the EU Medical Devices Regulation law that may cause unintended shortages of essential drug and medical devices for children and rare disease patients. -
News 10 Major Drug Approvals So Far in 2023
Last year, 37 novel drugs were approved by the FDA, this was a high number for such a category, and covered many fields including oncology, demonstrating how promising further research is, and how it is only continuing to build. To date, there are alre... -
News Detecting Alzheimer's disease with a simple lateral flow test
A novel rapid diagnostic test for early-stage Alzheimer's disease has been developed using a biomarker binder from Aptamer Group along with technology from Neuro-Bio, the neurodegenerative disease experts. -
News CPHI Podcast Series: outsourcing and manufacturing trends
Listen to the CPHI Podcast Series this June to hear Gil Roth of the PBOA speak with Digital Editor Lucy Chard about the biggest trends and topics to watch in pharma outsourcing and manufacturing at the minute.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance