The groundbreaking ceremony for Roche's Shanghai innovation center takes place in Zhangjiang Hi-Tech Park, Pudong New Area, on Nov 4, 2016. [Photo/roche.com.cn]
The construction of an innovation center for European healthcare giant Roche in Zhangjiang Hi-Tech Park, Shanghai's Pudong New Area, will be completed at the end of 2019, according to the company.
The innovation center started construction in 2016 with an investment of 863 million yuan ($127 million) and a planned area of 14,000 square meters. Once finished, hundreds of scientists will be stationed there to carry out research and development.
"In the future, we will not only bring international new drugs to China, but also bring locally developed drugs to the rest of the world," said Zhou Hong, general manager of Shanghai Roche Pharmaceutical Co, a joint venture with Roche established in Zhangjiang in 1994.
Early in 2004, Roche built its first R&D center in Shanghai, which has trained a batch of researchers and developed several new drug production lines.
Boosted by an expanding Chinese market, Roche has achieved substantial growth in recent years. Its sales rose seven percent to 44 billion Swiss francs ($44.7 billion) in 2018, with sales in the Chinese market rising 28 percent.
In addition, benefiting from China's decision to accelerate the approval process of new drugs, Roche holds the rights to three of the 48 new drugs approved for listing in 2018 by the National Medical Products Administration.
According to Zhou, Roche plans to launch 40 new drugs in China by 2026.