The joint venture, with investment totalling €58 million (US$77 million), will become a leading manufacturer of veterinary vaccines in Asia upon its completion. The facility is expected to complete construction in June 2015 and to create about 200 job opportunities.
"China is one of the most important animal health markets in the world. With the start of this project, we are fulfilling our commitment to providing the entire value chain of our vaccine business in China," said Joachim Hasenmaier, member of the board of managing directors and responsible for Animal Health.
"Taizhou China Medical City, with its favourable geographic location, sound investment environment and well qualified employees, among many other advantages, proved to be an ideal partner for Boehringer Ingelheim. The project underlines our commitment of continued investment in China," Hassenmaier said.
With nearly 60 years of experience in the Animal Health sector, Boehringer Ingelheim is a market leading company and the largest vaccine supplier for swine worldwide. Through this joint-venture, Boehringer Ingelheim is set to introduce leading animal health technology in China and to expedite the sector's development in the country. The joint venture will become a leading force for the country's animal husbandry sector, providing scientific, innovative and high-quality solutions in the area of animal health. The manufacturing plant will mainly produce vaccines for swine and poultry diseases.
Lu Chunyun, Standing Committee member of Taizhou municipal government and president of China Medical City, said, "Boehringer Ingelheim is a leading player in the world's Animal Health sector, particularly in swine vaccines. China Medical City - the country's only national-level medical high-tech development park. This co-operation is set to create synergy and a win-win situation."
The Boehringer Ingelheim group is one of the world's 20 leading pharmaceutical companies. In 2012, Boehringer Ingelheim achieved net sales of about €14.7 billion (US$20 billion). R&D expenditure in the business area Prescription Medicines corresponds to 22.5% of its net sales.
