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Pfizer Breaks Ground on $350 Million Biosimilar Plant in China

publication date: Jun 28, 2016
Pfizer started construction of a $350 million Global Biotechnology Center in Hangzhou. The center, which will manufacture high-quality, affordable biosimilar drugs for China and the world, will also serve Pfizer's process development and clinical supply needs. Although Pfizer hasn't always been associated with biosimilars, its 2015 acquisition of generic drugmaker Hospira included a Remicade biosimilar that recently was approved for US use. To speed up construction of the Hangzhou plant, Pfizer will use GE Healthcare's modular biologics system that is constructed in a German factory and assembled on site. More details....

Stock Symbols: (NYSE: PFE) (NYSE: GE)

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