Mar. 21, 2010
On March 22, 2010, the German pharmaceutical company Merck Serono announced its plan to set up a subsidiary in the Beijing Tianzhu Free Trade Zone. The Merck Serono China Branch intends to invest RMB 300 million in its new branch which will commence operations on July 1, 2010. Merck Serono plans to invest RMB 1.5 billion RMB in a global R&D center in Beijing before 2013, which will be its fourth R&D center globally.
The company intends to make use of a 24-hour clearance connection with Beijing airport and favorable tax conditions. In addition to R&D, the China subsidiary will also engage in marketing and sales of Merck’s products in China (To-date Merck is selling 17 prescribed drugs in the Chinese market).