A panoramic view of China Medical City. [Photo/WeChat account: weigg6666]
Pharmaceutical giant AstraZeneca signed a memorandum of cooperation with China Medical City – located in Taizhou city of East China's Jiangsu province – on Aug 16, to further bolster the high-quality development of China's pharmaceutical industry.
With an investment of about $300 million, AstraZeneca's Taizhou production base was put into use in 2014. Last year, the company announced the establishment of a new production line in Taizhou, which will be completed and put into operation this year.
The new line plans to achieve an annual production capacity of over 2 billion units of medicine and an annual output value of over 10 billion yuan ($1.37 billion).
Through this expanded capacity, AstraZeneca wants to see its Taizhou base become a global production center to bring innovative achievements to more patients.
"We hope to help the Chinese medical industry improve its quality and efficiency in the future, and unleash the advantages and potential of the industry," said Wang Lei, director general of AstraZeneca in China.