Global pharmaceutical giant Pfizer is set to open a new biotech hub in Hangzhou.
Bloomberg report that the $350 million facility will open by 2018, and will be Pfizer's first biotechnology centre in Asia.
Meanwhile, Reuters suggest that the investment could represent an effort by Pfizer to capture a larger share of China's healthcare market. They estimate that this could be worth $158 billion by 2018.
Pfizer's current research and development facilities are in the USA, with the exception of UK sites in Cambridge and Sandwich.
News | February 22,2017