(Yicai) May 23 -- German pharmaceutical titan Bayer will build a new consumer health products supply center in Qidong, China's eastern Jiangsu Province, which will likely be ready by 2028.

Bayer's consumer health division inked a deal for the center with the local government on May 21, the Leverkusen-based company announced. The firm will invest CNY600 million (USD83 million) in the first phase of the project, it added.

Bayer previously set up a strategic supply center for consumer health oral solid dosage products in the Chinese market, it noted. The new supply center will further increase capacity to support the portfolios of products, the future sets of new products, and the export business in China, it said.

The Bayer Consumer Health division also plans to invest EUR20 million (USD21.7 million) to establish a China Center for Innovation and Partnership in Shanghai this year, Bayer pointed out.

Editor: Martin Kadiev