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Merck KGaA (MKGAF.PK) Invests $107 Million In China Drug Plant


11/15/2013 7:22:31 AM

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German drugmaker Merck KGaA has invested 80 million euros ($107.67 million) in a manufacturing plant in China, the company said on Friday, underlining the importance of the market for global drug firms. The Shanghai-based facility will come online in 2017, producing drugs to treat China's fast growing number of diabetics as well as cardiovascular and thyroid disorders, Merck's biopharmaceutical unit said. Spending in the country's healthcare sector is forecast to nearly triple to $1 trillion by 2020 from $357 billion in 2011, according to McKinsey, which has prompted many firms to invest in Chinese facilities and set up joint-ventures with local companies.

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