Bayer expanded its China Center of Innovation and Partnership (CCIP) to Shandong province on Wednesday, nearly two years after launching its flagship hub in Shanghai.
The expansion advances the CCIP's "in China, for the world" concept, betting on the country's fast-expanding consumer health market fueled by rising wellness awareness and supportive government policies for medical innovation.
At the inauguration ceremony of the CCIP in Jinan, Shandong, Bayer signed cooperation agreements with the Shandong Institute for Food and Drug Control, Jewim Pharmaceutical (Shandong) Co Ltd and Shandong Freda Biotechnology Co Ltd.
"China is the number two market in our global consumer health business, and it is a very dynamic market. Innovation plays a very important role within China," said David Evendon-Challis, president of global research and development and chief scientific officer of Bayer Consumer Health. "We continue to invest in our brands, our science, our innovation and our manufacturing and supply chains in China."
The company is investing in a new factory that will be put into operation in 2028, with construction scheduled to finish this year. The facility will enable Bayer to steadily expand and launch new products.
