German pharmaceutical giant Boehringer Ingelheim is set to establish its first branch outside of its home country in Shanghai, China. The Ingelheim-based company, owned by C.H. Boehringer Sohn AG & Ko, stated on Monday that it will be putting up a digital BI X laboratory in the Chinese city in July this year.
One of the world's largest pharmaceutical companies mentioned that it believes Shanghai to be the start-up hub of China. Boehringer Ingelheim aims to capitalize on that fact by setting up its base of operations for its continued expansion into the Chinese market. The BI X laboratory it will be setting up will mainly focus on accelerating the development of healthcare technologies and breakthrough treatments for both humans and animals.
Since it set up its BI X lab at home in 2017, the facility has managed to complete and deliver successful medical projects that have impacted the sector worldwide. To establish its Shanghai branch, Boehringer Ingelheim plans to invest up to 3 million Euros or 23.55 million yuan for the project. The facility is expected to create up to 20 new jobs that focus on developing innovative digital solutions for customers in China.
Boehringer Ingelheim's facility in Germany and its upcoming branch in Shanghai will be collaborating on various projects, both ongoing and those that are still in the pipeline. The company's managing director for its brand in China, Felix Gutsche, mentioned that China is an important market for Boehringer Ingelheim as it is becoming one of the world's leading epicenters for digital health innovations.
By establishing its own BI X lab in China, Boehringer Ingelheim hopes to tailor its products based on the topics and needs of Chinese customers and patients. Boehringer Ingelheim board member, Michael Schmelmer, mentioned in a statement that the establishment of the brand should strengthen its footprint in the Chinese market. He added that China posses a very unique technological landscape, one that is conducive to digital innovation in healthcare.
The world's largest privately held pharmaceutical company aims to produce disruptive products that will change the medical landscape in the country. To achieve this, Boehringer Ingelheim is banking on China's high digital capabilities and widely available talent.
Boehringer Ingelheim, which was founded in 1885, operates globally through 146 affiliates. The private company, fully owned by the Boehringer, Liebrecht and von Baumbach families, develops and produces treatments and products for key medical areas including oncology, immunology, respiratory disease, and treatments for central nervous system ailments.
