Singapore: Global drug giant Pfizer has recently announced plans to invest $350 mn to build a Global Biotechnology Center at the Hangzhou Economic and Technological Development Area (HEDA) in China. The firm said in its press release that the biotech hub will produce high-quality and affordable biosimilar medicines for China and the world, and and serve as the home of Pfizer China's biosimilars and biologics quality, technical Service, logistics, and engineering divisions. The site will also be used for process development and clinical supply

The Hangzhou facility will be Pfizer's third biotechnology center globally and the first in Asia. HEDA is located in the eastern urban area of Hangzhou City, on the north bank in the lower reaches of the Qiantang River.

"We believe that the Pfizer Global Technology Center in Hangzhou will help support China's aim to increase the complexity and value of its manufacturing sector by 2025, and contribute to building a truly innovative and vibrant biopharmaceutical industry," Mr John Young, group president of Pfizer's Essential Health unit in a statement after ground was broken for the facility on June 27.

The site is expected to be completed by 2018 and will be the drugmaker's first biotechnology center in Asia and its third in the world. The center will include a GE KUBio modular facility, a single-use bio-manufacturing technology that helps increase the speed of production with fewer carbon dioxide emissions. When operational, it will represent Pfizer's further investment in R&D and clinical research across China, and will create some 150 jobs.

"We plan on building on Pfizer's 30-year history in China by applying our global expertise in manufacturing excellence to bring high-quality biosimilars to market," said Tony Maddaluna, president of Pfizer Global Supply, in the release. "The local production of high-quality, affordable biosimilar medicines will have the potential to significantly improve the lives of patients not only in China but across the world."

China's overall healthcare spending is estimated to rise to $1.3 trillion by 2020, but drug market growth has slowed as branded generics have lost their popularity. Pfizer develops and produces medicines and vaccines for a wide range of medical disciplines, including cardiology, immunology, oncology, diabetology / endocrinology and neurology.