Pfizer to Create Biotech Hub in China


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.

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