Novo Nordisk, a world-leading pharmaceutical firm in diabetes care, has been running business in China for 17 years. The Danish company is well received by Chinese diabetics and its logo of an Apis bull, the sacred Egyptian animal symbolizing eternal life, has become a familiar trademark among Chinese patients.
The Tianjin plant of Novo Nordisk was set up in 1996 and has undergone continued expansion ever since. Currently it is providing insulin products and injection devices to both the Chinese and international markets.
In 2008, Novo Nordisk started construction on a new insulin production plant in Tianjin with an investment of nearly $400 million, which is by far the company’s largest single overseas investment.
The productivity of Novo Nordisk’s Tianjin plants holds great significance, said Lars Rebien Sorensen, CEO of Novo Nordisk, noting that its insulin products can meet the demands of both Chinese and international markets.
President of Novo Nordisk China Thorkil Christensen said China’s investment environment has changed remarkably since it obtained the WTO membership 10 years ago.
The Chinese government is taking a more welcoming stance toward foreign investors and provides greater support for foreign companies and joint ventures, he said, adding that Novo Nordisk would take the opportunity of China’s economic development to achieve win-win results.
