International pharmaceutical companies have decided to set up their bases in China in a life science innovation campus. The sino-foreign cooperation would be located in the city of Wuxi, east China. The outbreak caused inspired the cooperation where the companies would innovate, digitize, and collectively administer medical tasks worldwide.
According to the vice president of AstraZeneca Tina Xu, life science became the spotlight after the pandemic shook the global economy. Hence, international pharmaceutical companies established methods where they would deal with finding cures for viruses. The efforts would also involve medical innovation, global cooperation of important medical tasks around the world, and the digitization of medicine. Tina added that the pandemic also highlighted the importance of global coordination in finding feasible and effective remedies against the outbreak.
In September 2019, the 300,000 square meters industrial park known as the Wuxi International Life Science Innovation campus jointly established by the Wuxi municipal government was used as the base for pharmaceutical giant AstraZeneca. Last Monday, ten international pharmaceutical companies across countries and regions in India and Japan set up their operations in Wuxi National High-Tech District. The move marked the total number of registered pharmaceutical companies that operate on the campus at 17.
Tina discussed that the platform would aid in improving health science innovation and commercialization in China and attract overseas players in the market to co-build the industrial ecosystem.
According to the vice president of Tricog China David O'Dell, the locations are friendly to international pharmaceutical companies with favorable policies established by the Wuxi municipal government. He also claimed that these would aid in successful launches of medical programs in the Chinese market.
The general manager of Teddy Clinical Research Laboratory Xu Yi, also shared his sentiments about the hub. She claimed that Teddy Clinical Research Laboratory chose to base its operations in the East China platform since it could hasten the development of the company's products and services there. She also explained that the local government provided for a healthy business environment for innovative companies in the field. Furthermore, she revealed that co-builder AstraZeneca offers its global resources as commercial support for companies that operate there.
Teddy Clinical Research Laboratory specialized in healthcare and medicine. Xu claimed that its services would be of equivalent value to the ecosystem at the facility and would enjoy the use of benefits offered there.
The local government of Wuxi also offers subsidies involving research and development but extends its support through taxation. It also promotes a green channel that not only accelerates the application and approval process of resident pharmaceutical companies but promotes the entering of new products into the Chinese market.
