Tasly bio park breaks ground in Jiangsu Province
Shanghai. August 12. INTERFAX-CHINA - Tasly Group Co. Ltd. on Aug. 11 started construction of a biopharmaceutical industry park in Huai'an City, Jiangsu Province, the city government announced Aug. 12.
According to the announcement, the Tianjin Municipality-based company will invest a total RMB 2 billion ($294.12 million) in the park. It will be located in Qingpu Biopharmaceutical Zone in the city's Qingpu District and is slated for completion in three to five years.
The company will develop finished chemical drugs at the facility, including anti-tumor drugs, and intends to manufacture about 50 different drugs there over the next five years.
"The new industrial park will expand on the facilities of Tasly Group's Huai'an subsidiary," Meng Jie, the company's public relations director, told Interfax on Aug. 12.
Tasly set up its Jiangsu Tasly Diyi Pharmaceutical Co. Ltd. subsidiary in 2003.
Meng added that the base in Jiangsu will focus mainly on chemical drugs, while the Tasly's Tianjin facility will concentrate on finished traditional Chinese medicines (TCM).
The company also has a biological production plant in Shanghai and a herbal plantation in Shanxi Province.
Other companies with operations in Qingpu Biopharmaceutical Zone include Jiangsu Chengyi Pharmaceutical Co. Ltd. The Qingpu District Government expects Tasly's park to generate annual sales revenue of RMB 5 billion ($735.29 million) when completed, rising to RMB 10 billion ($1.47 billion) three to five years into operation.