China Medical City is home to more than 1,300 pharmaceutical companies. [Photo/Taizhou Daily]
In the first three quarters, Taizhou's biomedical industry park, also known as China Medical City, recorded invoice sales generated by enterprises above a designated size totaling 18.59 billion yuan ($2.62 billion), a hefty increase of 48.5 percent.
As of now, a total of 45 enterprises in the park have acquired drug production licenses, and 180 medical device manufacturing companies are operational.
In the first three quarters, the main industries in the park showed outstanding contributions from the chemical drug new formulation and biopharmaceutical industries. Their invoice sales increased by 59.3 percent and 198.6 percent year-on-year, respectively.
During this period, the park signed 45 new projects, each exceeding 100 million yuan, with a total planned investment of an estimated 15.42 billion yuan, reaching 75 percent of the annual goal.
For instance, the construction and product declaration for the Xigduo XR project, managed by AstraZeneca's Taizhou factory, are progressing. Once operational, Taizhou will serve as AstraZeneca's worldwide manufacturing and supply hub for diabetes products.
This year, under the park's professional support, local companies secured 11 new drug registration approvals, received two implied licenses for drug clinical trials, and obtained six registration certificates for Class III medical devices. Currently, 79 drugs are pending market approval.