Xiuzheng Pharmaceutical breaks ground on R&D, manufacturing center in Jiangyan

The groundbreaking ceremony for Xiuzheng Pharmaceutical's East China R&D and Manufacturing Center is held in Jiangyan district, Taizhou. [Photo/Taizhou Daily]

Xiuzheng Pharmaceutical, one of China's top 10 pharmaceutical companies, commenced construction on its East China R&D and Manufacturing Center in Jiangyan on Oct 28.

The company is investing 5 billion yuan ($702.85 million) in the project, aiming to consolidate its resources in East China and establish a biotechnological innovation hub focusing on research, incubation, and green production.

The project includes the Xiuzheng Biopharmaceutical (Taizhou) R&D Center and a base for the research and production of new biological drugs and medical devices. The Xiuzheng Biopharmaceutical (Taizhou) Research Institute is already completed and will be operational by the end of the year.

The second phase of the project will see the construction of eight multi-story standard factories, focusing on the production of Xiuzheng's new biological drugs and high-end medical devices. Once fully operational, the center is expected to generate 6 billion yuan in annual sales.

"Choosing Taizhou was a strategic decision based on its many strengths," said Xiu Laigui, chairman of the company. "Taizhou offers a strong industrial foundation and a supportive business environment and benefits from its strategic location, providing fertile ground for business growth."

Founded in 1995, Xiuzheng Pharmaceutical is involved in the research, production, and marketing of traditional Chinese medicine, chemical pharmaceuticals, and biopharmaceuticals.