A drawing of the global R&D headquarters of Shanghai Chia-tai Tianqing Pharmaceutical Technology Development Co in Hongqiao CBD [Photo/WeChat account: minhangnews]
Shanghai Chia-tai Tianqing Pharmaceutical Technology Development Co, a wholly-owned subsidiary of Chia-Tai Tianqing Pharmaceutical Group (CTTQ), recently announced that it will build its global research and development headquarters in Huacao community in the Qianwan area of the Shanghai Hongqiao International Central Business District.
The project, covering an area of about 38,800 square meters, will include a research and development center, an office building, dormitories for employees, and supportive facilities.
Upon its completion, the total floorage of the complex will reach 175,600 square meters.
The project will help Hongqiao Qianwan develop into a strategic hub to lead domestic drug R&D technology innovation.
It will also attract domestic and foreign high-end technicians and upstream and downstream biomedical enterprises to gather in the area, and go on to promote bio-pharmaceutical innovation in the city's Minhang district.
CTTQ is a pharmaceutical company with integrated R&D, manufacturing, marketing, sales and distribution capabilities. It is well-known in the field of anti-tumor and liver disease care in China.
In 2022, the parent company achieved sales revenue of 14.6 billion yuan ($2.14 billion) and paid tax of 1.19 billion yuan. CTTQ ranks 15th in the list of China's top 100 pharmaceutical enterprises, and third for its innovation ability, according to the list of China's top 100 enterprises published by China's Ministry of Industry and Information Technology.