Taizhou unveils plan to further develop pharmaceutical industry

chinadaily.com.cn | Updated: 2022-07-05

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A workshop of a pharmaceutical enterprise in Taizhou, East China's Zhejiang province. [Photo/WeChat account: tzfb001]

Taizhou in East China's Zhejiang province recently unveiled an action plan to boost the development of its pharmaceutical industry.

According to the plan, the city aims to house 300 pharmaceutical enterprises, including 100 national high-tech ones, and lift the scale of the pharmaceutical industry to 100 billion yuan ($15.38 million) by 2026.

By 2035, the city is expected to become a world-class pharmaceutical manufacturing hub. 

Taizhou's pharmaceutical industry has in recent years seen robust growth. The city is China’s only export base for Active Pharmaceutical Ingredients (APIs). Its annual exports of APIs accounts for one third of Zhejiang's total and one tenth of the nation's total.

In addition, Taizhou currently leads the nation in drug production capacity. The city is the largest production base of antibiotics and anti-tumor drugs in China, and is also ranked high in the world in terms of the market share of anti-epilepsy, diabetes and vitamin products. 

Disposable syringes and clinical laboratory consumables produced in Taizhou occupy more than 15 percent of the national market share, while visual laryngoscope manufactured in the city make up 70 percent of the domestic market share.

There are currently 126 listed biomedical enterprises in the city, accounting for 30 percent of the listed enterprises in the Shanghai and Shenzhen stock markets in the pharmaceutical field from Zhejiang.