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County to be Home to $40 Million Investment by Chinese Biopharmaceutical Company

Montgomery County will be home to the largest Chinese investment ever made in Maryland when the Tasly Group – a leading biopharmaceutical company in China --  invests $40 million to locate a 430,000 square-foot production facility and training center in the Shady Grove Life Sciences Center.    

The company’s goal is to make Compound Danshen Dripping Pills (CDDP) the first traditional Chinese medicine product to launch as an FDA-approved pharmaceutical in the American market. Once approved by the FDA, the traditional Chinese medicine that would treat coronary diseases and angina could benefit more than 10 million patients a year, according to company estimates.

Dozens of new jobs are expected to be created at the facility over the next three years.

CATEGORIES: Economy
POSTED AT: Wednesday, June 15, 2011 | 6:00:00 AM |
News and Information from Montgomery County Government, Public Information Office.
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Last edited: 11/8/2010