Germany-based Merck, a leading company in the pharmaceutical and chemical sectors, will spend 650 million yuan (US$104.84 million) in Nantong, Jiangsu Province, to build a new pharmaceutical plant next month, Merck officials said in Shanghai on Wednesday.
The plant will start operating in 2017 and produce only three medicines - all of them included on the basic medicine list covered by China's medical insurance. The three medicines treat hypertension, diabetes and thyroid disorder.
Merck is the first multinational company to invest heavily in a new plant specifically to produce medicines covered by China's medical insurance.
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