Chinese drugmaker pours $145M into plant with plan to produce innovative biologics

Changzhou Qianhong Bio-pharma has started construction of a ¥1 billion ($145 million) second phase to its manufacturing operation in the Changzhou National Hi-Tech District. (iStock )

A Chinese maker of heparin, APIs and some finished drugs is launching the second phase of its manufacturing plant, investing nearly $150 million as it moves into producing innovative biologic drugs for the Chinese market.

Changzhou Qianhong Bio-pharma, Tuesday announced it has started construction of the ¥1 billion ($145 million) project in the Changzhou National Hi-Tech District. It says when complete, the facility will add 200 million tablets and 60 million injections to its production, as well as making molecular diagnosis reagents.