Stevanato Group says its decision to acquire a facility in Zhangjiagang, China is part of its growth strategy and aim to deliver supply chain security.
Stevanato, a provider of drug delivery, drug containment, and diagnostic solutions to the life sciences industry, has acquired a facility located close to its plant in the Jiangsu Zhangjiagang Economic and Technical Development Zone.
“[Our] facility in Zhangjiagang will support the production of high-value solutions, such as pre-sterilized EZ-fill syringes and vials, meeting the growing demand in the biotech and vaccine market, and will be backed by on-site scientific and analytical support to deliver integrated solutions,†a spokesperson for Stevanato told us.
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“The facility will also host a manufacturing area for visual inspection machines and glass forming lines featuring cutting-edge production processes and technologies.â€
This is the latest phase of the firm’s expansion in China, and it looks to begin renovations during the spring. The facility is anticipated to be up to 32,000 square meters including engineering space and Stevanato claims it will support the Chinese pharmaceutical industry by streamlining the drug development supply chain.
The facility will include a manufacturing area for visual inspection machines and glass forming lines. Equipment production is expected to start next year, with the first EZ-fill lines to be fully operational in early 2024.
“This investment reinforces our sharp focus on supporting the growth of high-end pharmaceutical manufacturing in China. At Stevanato Group, our involvement at each stage of a drug’s life cycle – together with the breadth of our offering – allows us to serve as a one-stop-shop for our customers and reduce their overall time to market while enhancing quality performance at the same time,†the spokesperson said.
The company expects to employ around 270 people at the China hub. In addition to this, Stevanato is planning to expand its current drug containment solution production in Zhangjiagang, increasing the size of the facility by 7,000 square meters.
This expansion will almost double its current production capabilities by the end of 2024.