Biopharmaceutical industry thrives in Yantai Huang-Bohai New Area

The biopharmaceutical industry is one of the five key industries being developed in Yantai Huang-Bohai New Area. [Photo/WeChat account: gh_5ec6eb206937]

Representatives from various multinational biopharmaceutical giants such as Bayer, Roche, and Takeda recently visited the Yantai Huang-Bohai New Area.

Their visit included a tour of the Huang-Bohai New Area Industrial and Cultural Center and the Yantai International Biopharmaceutical Valley, providing them with insights into the area's favorable investment climate and robust foundation in the biopharmaceutical industry. They were also encouraged to invest by local investment promotion officials.

Biopharmaceuticals are a strategic emerging industry in China and represent one of the five key sectors being developed in Yantai Huang-Bohai New Area.

Over the past three years, the biopharmaceutical industry in the area has seen an average annual growth rate exceeding 25 percent. With over 150 biopharmaceutical enterprises, including prominent names like RemeGen and Simcere, the area has guided four companies towards IPO.