Chinese Pharma Company Invests $145 Million in Manufacturing Plant

Changzhou Qianhong Bio-pharma, a Changzhou, China-headquartered pharmaceutical company, has begun the second phase of construction of a manufacturing facility in Changzhou National Hi-Tech District, with a 1-billion yuan ($145-million) investment.

Changzhou Qianhong Bio-pharma is a manufacturer of pancreatic kininogenase, heparin sodium, and low-molecular-weight heparin as well as digestive enzyme preparations and asparaginase, which is used to treat acute lymphoblastic leukemia, acute myeloid leukemia, and non-Hodgkin’s lymphoma. The second phase of the project will enable the company to produce innovative biologic drugs for the Chinese market.

The 1.2 billion-yuan ($174-million) first phase of the project is already in operation. The second phase of the project will focus on the research and development of biologic-based drugs for treating cancer and cardiovascular and cerebrovascular diseases. Completion of the project will enable production of 200 million tablets, 60 million injections, and molecular diagnosis reagents.

Source: Changzhou Qianhong Bio-pharma

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