Wednesday, April 29, 2015
Pharmaceutical company Green Cross said Wednesday it will build a cell therapy manufacturing facility in the Guian New Area in China's Guizhou Province.
The firm said the new manufacturing site will address the cellular therapeutic industry's demand for clinical studies and commercial supply.
"Our investment reflects the strength of our business and the increasingly important role that cell therapy will play in Green Cross' future," Rhee Byung-geon, president of Green Cross Holdings, was quoted as saying in a press release. "Over the last 20 years, Green Cross has maintained a significant manufacturing facility and sales forces for the plasma fractionation business in China, and we look forward to building on that legacy through this business expansion."
The Chinese pharmaceutical market is growing rapidly, becoming a major battleground among global pharmaceutical giants, according to a report from business consultancy McKinsey & Company.
koreatimes.co.kr
