Tianjin Facility in China Renews Local Partnership
Servier was one of the first pharmaceutical companies to enter the Chinese market in 1979. In the 40 years since that time, Servier China has forged an excellent reputation within the medical and scientific community. Since 2002, the Group has also started production activities for China and other Asian countries at its Tianjin facility.
This installation was made possible through a joint venture* between Servier and local partner Huajin. On June 28, Servier and Huajin jointly confirmed their collaboration for a further 20 years.
“Continuing our collaboration with local partner Huajin is excellent news for our production and ensures a sustainable future,” says Hugues Renaut, Managing Director of International Operations (China, Northern and Western Europe). “As Servier China’s brand-name drug sales are the highest in the Group, local production reduces costs and facilitates market access.”
According to Pierre Venesque, Executive Vice President Industry, “The Tianjin industrial site is a major facility for our Group. As proof, 40 million euros have been invested in building an extension of the site by the end of 2020, which will eventually enable us to double production capacity. Servier Tianjin is proud of its contribution to improving the lives of Chinese patients and their families. Servier’s mission is a great source of pride for all employees on Chinese soil.”
Tianjin is the third largest pharmaceutical production site in the Group in terms of volume for Servier brand-name products.
*Joint subsidiary between two or more companies as part of international economic cooperation. This financial technique is a means of cooperation between companies with complementary expertise.