Booming Chinese market lures Unigene joint venture

Tue, 29 Apr 2008 06:59:54 -0400

Unigene is racing to complete construction of new facilities in China that will house its joint venture with a Chinese pharma company. The joint venture plans to pursue R&D work as well as drug manufacturing. And they're aiming at capitalizing on the booming Chinese market.

"The PRC (People's Republic of China) pharmaceutical market for Western-style pharmaceuticals in 2006 was $13.1 billion, representing year-on-year growth of 30 per cent, one of the fastest growth rates in the world," said Dr Warren Levy, CEO of Unigene. "It has been projected that the PRC will become the world's leading consumer of pharmaceutical products by the year 2020."

- see Unigene's release
- read the report in In-PharmaTechnologist