(Yicai) May 9 -- Swiss drugmaker Roche plans to invest CNY2 billion (USD276.4 million) on a second biopharmaceutical plant in China so as to produce more innovative medicines in the country.

The new facility, to be built in Zhangjiang Hi-Tech Park in Shanghai’s Pudong New Area, is slated for completion in 2029 and is expected to begin operations in 2031, the Basel-based firm announced on WeChat yesterday. The plant will produce Roche’s Vabysmo treatment for various severe retinal conditions.

Vabysmo (faricimab-svoa) is injected into the eye to treat adults with wet age-related macular degeneration, diabetic macular edema, and macular edema following retinal vein blockage. It has been approved in over 100 countries and is covered by China's medical insurance program.

The Shanghai base is an important milestone in Roche's development in China and represents a major enhancement of its local production capacity, said Bian Xin, president of Roche Pharmaceuticals China.

Roche will expand its production in China to include more innovative drugs and actively contribute to the development of the country’s biopharm industry and help achieve the goals of the Healthy China 2030 action plan, Bian added.

Launched in 2019, Healthy China 2030 is a national plan that aims to improve the population ’s health and well-being by 2030 through a range of initiatives. 

Roche was the first multinational drug company to settle in Zhangjiang High-Tech Park in 1994 and has since established there a regional headquarters, a production base, and a research and development center.

After 30 years of development, Roche now markets 30 products in China across eight major therapeutic areas, including oncology, anti-infectives, neurology, and ophthalmology, according to its website.

Besides the pharmaceutical business, Roche also has a large diagnostics division that has been developing in China for more than 20 years. The company has a production base for diagnostic reagents in Suzhou, Jiangsu province.

Last year, Roche reported global revenue of CHF60.5 billion (USD72.8 billion), up 7 percent from the previous year, based on constant exchange rates. Its drug and diagnostic income from China rose 6 percent and 1 percent to CHF2.9 billion and CHF2.4 billion (USD3.5 billion and USD2.9 billion), respectively.

Editor: Futura Costaglione