GlaxoSmithKline (GSK), the renowned British biopharmaceutical company, has taken a significant step in expanding its presence in China. On September 10, the unveiling ceremony of Shanghai GlaxoSmithKline Pharmaceuticals Co., Ltd. was held in Lingang Centre, marking its official establishment in the Lingang Investment Holding Group Park. This wholly-owned subsidiary will primarily handle two domestic products focusing on hepatitis and anti-depression treatments, serving as the drug marketing authorization holder (MAH) for GSK's domestic products and potentially for some imported drugs in the future. The company aims to apply for the Shanghai Municipal Licensee Holder MAHB certificate in 2024, with hopes of obtaining it by the first quarter of 2025.
GSK's Commitment to China
GSK continues to demonstrate its commitment to the Chinese market, employing nearly 4,000 individuals across the country and covering business operations in over 250 cities and regions. The company's motto, "Based in China, working with China, and serving China," reflects its dedication to local development.
Lingang New Area Advantages
The decision to establish the new subsidiary in Lingang New Area was influenced by its unique location, favorable policy environment, and special comprehensive bonded area status.
Prospects
Zhang Yan, General Manager of GlaxoSmithKline Pharmaceuticals, expressed optimism about the company's future in Lingang, citing the area's promising development potential and the new opportunities it presents for growth. This strategic move by GSK not only strengthens its position in the Chinese market but also contributes to the development of Shanghai's biopharmaceutical industry. It showcases the attractiveness of Lingang New Area for international companies and reinforces Shanghai's status as a global innovation hub.
Source: Shanghai Lingang Cambridge Network
