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E-mail China.org.cn, October 25, 2024
Beijing is emerging as a global hub for pharmaceutical innovation as eight international pharmaceutical companies plan to establish research and development centers in the city.
The announcement came at the 2024 International Biomedical Industry Innovation Conference Beijing Forum yesterday. Eli Lilly and Company, Merck Sharp & Dohme, Pfizer, Bayer, AstraZeneca, Medtronic, Danaher Corporation and HUYA Bio International will invest in Beijing, bolstering the city's position in life sciences.
Six of these R&D centers will be located in the Beijing Economic and Technological Development Area, known as Beijing E-Town.
"These newly established R&D institutions in Beijing E-Town are mostly the 'first in Beijing' or 'first in China' for these multinational pharmaceutical companies," a Beijing E-Town official said.
Eli Lilly, the world's largest pharmaceutical company by market value, will establish a medical innovation center and an innovation incubator in Beijing E-Town.
Beijing has designated pharmaceuticals as one of two "twin engines" driving city innovation. Since 2018, the city has introduced policies supporting pharmaceutical development, including the 32 Measures to Support High-Quality Development of Innovative Pharmaceuticals and policies to foster the growth of foreign-funded R&D centers. Currently, 40% of Beijing's 149 foreign-funded R&D centers operate in pharmaceuticals and health care.
To further attract foreign investment, Beijing has pledged comprehensive support services to these eight companies, including policy implementation, innovation promotion and logistical assistance.
The Beijing Municipal Commission of Development and Reform will provide customized services to the newly invested companies, focusing on policy support, innovation facilitation and operational guarantees.
