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 28/01/2010
[Industry news]
Chinese firm to develop biopharma incubator
Chinese enterprise Changzhou Fangyuan Pharmaceutical is planning to develop a bio-pharmaceutical incubator at the Changzhou National High-Tech District, Jiangsu province in China.
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Chinese enterprise Changzhou Fangyuan Pharmaceutical is planning to develop a bio-pharmaceutical incubator at the Changzhou National High-Tech District, Jiangsu province in China. A foundation laying ceremony for the Changzhou Biopharmaceutical Incubator -- an innovative technological medium with international standards, was held recently. 15 enterprises under incubation were officially inducted during the event, while total investment for the project amounts to RMB520 million ($118 million).
The key areas of development are innovative pharmaceuticals, diagnostic reagents, medical engineering and outsourcing of pharmaceutical research and development, providing the required resources for the development of the bio-pharmaceutical industry. The incubator is said to help about 200 enterprises over next five years.
\"The goal of the incubator is to harvest 50 enterprises, develop 1,000 high-quality industry talents and realize annual revenue of about RMB10 billion ($1.5 billion) among the 200 enterprises under incubation over five years,\" said Fangyuan Pharmaceutical\'s Chairman Mr Jin Xiaoyong. The media release noted that the government has already listed the pharmaceutical industry as one of the top five industries to be fostered and supported. Despite the financial crisis last year, Changzhou\'s bio-pharmaceutical industry continued to grow by 20 percent. Developing the bio-pharmaceutical incubator is significant to Changzhou\'s bio-pharmaceutical industry development. |
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