Chinese drugmaker Changzhou Qianhong Bio-pharma starts construction of RMB 1 billion facility to expand production of polysaccharides and enzymes drugs
CHANGZHOU, China, Dec. 4, 2018 /PRNewswire/ -- Changzhou Qianhong Bio-pharma Co., Ltd. started construction of the phase two of pharmaceuticals production facility at Changzhou National Hi-Tech District on November 28. With an investment of 1 billion yuan, phase two adds 200 million tablets and 60 million injections to production as well as making molecular diagnosis reagents available for use by 20 million people. Changzhou government officials including Liang Yibo and Yan Jun took part in the groundbreaking ceremony.
Changzhou Qianhong Bio-pharma, a leading biochemical maker of polysaccharides and enzymes drugs, has won numerous awards for its high quality and integrity for years. Changzhou Qianhong Bio-pharma was listed on the Shenzhen Stock Exchange on February 18, 2011 (Changzhou Qianhong Bio-pharma; stock code: 002550). The company is a major manufacturer of pancreatic kininogenase, heparin sodium and low molecular weight heparin, as well as compound digestive enzyme preparations and asparaginase, all of which had, prior to the roll out of the phase one facility, never been produced in China. The entire drug lineup meets international standards in terms of production technologies and quality. Several products have been granted quality certifications by governing bodies in the US, the EU and Japan. The company has set up a comprehensive international marketing network, with products being sold in more than 20 provinces and cities across China as well as exported to markets abroad.
The 1.2 billion-yuan phase one project, which is already in operation, generated sales revenue of 1,070 million yuan in 2017. Phase two, in line with international standards, will focus on the research and development of innovative and first-of-its-class-in-China biological drugs with its own intellectual property rights, with the aim of treating patients with critical illnesses such as cancers as well as cardiovascular and cerebrovascular diseases.
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SOURCE Changzhou National Hi-Tech District