Shanghai, China (June 2, 2011) – On the first full day of a 10-day economic development mission to Asia, Governor Martin O’Malley today announced that Tasly Group, one of China’s leading biopharmaceutical companies, will invest $40 million in a new U.S. operation in Montgomery County, marking the largest investment in Maryland by a Chinese company. The company plans to open a 430,000-square-foot production facility and training center for traditional Chinese medicine in the Shady Grove Life Sciences Center, which will create dozens of jobs over the next three years. They selected Maryland to leverage the vast bioscience resources nearby as they prepare for Phase III clinical trials of their traditional Chinese medicine product Compound Danshen Dripping Pills (CDDP) developed to treat and prevent coronary disease. In making the announcement at Zhangjiang High-Tech Park, also known as China’s “Pharma Valley”, the Governor was joined by Tasly Chairman Dr. Yan Xijun.
“We are here in China to highlight the incredible opportunities there are for Maryland companies to collaborate with Chinese investors and researchers,” said Governor O’Malley. “By reaching across borders, we can share knowledge and research, generate promising partnerships, and leverage the power of innovation to create jobs and expand opportunity to make our children winners in this changing, global economy. We are pleased to welcome Tasly Group to Maryland.”
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