Novo Nordisk upgrades industry supply chain in China
Novo Nordisk and the Lin-gang Special Area signs an agreement on Nov 6. [Photo/WeChat ID: shlgguanweihui]
Leading international Danish biomedical company Novo Nordisk announced it will invest 400 million yuan ($55.17 million) to establish subsidiary Novo Nordisk (Shanghai) Holding Company Limited in the Lin-gang Special area, in East China's Shanghai.
It made the announcement on Nov 6 during the fifth China International Import Expo or CIIE, currently being held in Shanghai – marking its fifth round of investment in China and a total investment of nearly 2.5 billion yuan during the past five years.
Plans are for Novo Nordisk (Shanghai) Holding Company Limited to integrate and optimize parent group Novo Nordisk's business resources and synergistically promote its entire industry supply chain in China.
"The Lin-gang Special Area is ramping up efforts to develop a world-class, open and modern industrial system and biopharmaceuticals is one of its eight frontier industry clusters," said Zhao Yihuai, deputy director of the Lin-gang Special Area Administration.
"Thanks to the fifth CIIE, Novo Nordisk – a global leader in biopharmaceuticals – continues to invest here, which will help with the development of an innovative biopharmaceutical mecca in Lin-gang and enhance the international competitiveness of Shanghai's pharmaceutical industry," Zhao added.
In the five years since its first participation in the CIIE, Novo Nordisk has made five investments in China – expressing its confidence in the Chinese market and its long-term commitment to Chinese medical care.
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