Wuxi plant seeks to lift BMS investment in China
Print Edition
BRISTOL-MYERS Squibb (China) Pharmaceutical Co has launched a logistics facility in Wuxi, east China’s Jiangsu Province as the pharmaceutical giant boosts investment in China to tap the growing domestic biopharmaceutical products market.
With a registered capital of US$10 million, the company has established a cold chain storage facility, which will help future sales and distribution of biological products and other drugs requiring refrigeration.
The Wuxi facility, awarded national-level licenses for complying with China’s new National Good Supply Practice, is set to redistribute imported biopharmaceutical products.
BMS (China) Pharmaceutical is the first multinational company to enter the Wuxi Life Science Park.
The company was formed last year as a wholly owned unit of BMS, and is also a legal entity of BMS China after the US firm first set up its joint venture in Shanghai in 1982.
“The establishment of the new business entity further improves Bristol-Myers Squibb’s strategic layout in the Chinese market, and is beneficial to the expansion of its biological product lines,” Karl Lintel, president of the Bristol-Myers Squibb (China) Investment Co, said in a weekend statement.
BMS has a factory in Shanghai’s Minhang District and has been building up the supply chain for its diabetes and hepatitis drugs over the years.
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