Takeda Pharmaceutical Co, the largest biomedicine company in Asia, has vowed to further enlarge its investment in China, according to one of the Japanese drugmaker's top officials.
China is on track to becoming Takeda's second-largest market by the 2031 fiscal year, said Wang Lin, vice-president of Takeda's global research and development unit.
According to Wang, the company has been increasing investment in China since 2015. A special fund of about 300 million yuan ($42.78 million) was invested in China annually between 2015 and 2020 to accelerate the research and development of innovative products in the country.
As part of Takeda's headquarters in China, the Takeda Development Center Asia was moved to the Qiantan Center Building in the China (Shanghai) Pilot Free Trade Zone (FTZ) on Oct 20, 2021, which was a move to take advantage of the development of the country's biopharmaceutical industry and fulfill its commitment to Chinese patients.
"In recent years, Shanghai and Pudong have introduced a slew of policies and measures to boost the development of the biomedicine industry," Wang said.
"The favorable business environment that features high-level opening-up has strengthened multinational pharmaceutical companies' confidence in investing in China," Wang added.
The biopharmaceutical industry is one of the three strategic industries that Shanghai has been supporting, and many world-leading drugmakers have set up their China headquarters or R&D centers in the municipality.
"In the future, we hope to benefit from Shanghai FTZ's high-quality opening-up and accelerate the process of introducing innovative products and technologies to China, as well as help Shanghai build a world-class biopharmaceutical industry cluster," Wang said.
