Bayer launched its latest consumer health innovation center in Shanghai on Wednesday with an estimated investment of 20 million euros (US$21.83 million) to promote open partnerships with industry players.
The China Center of Innovation and Partnership (CCIP), one of Bayer Consumer Health’s global strategic innovation hubs across Europe, the UK, and the US, is the first one in Asia.
The Shanghai Innovation (SH-INNO) Park in the Zhangjiang of Pudong New Area is home to the new facility of the German life science and health-care company, which is ready to accelerate innovation research and development to explore more self-care solutions suitable for Chinese consumers.
Ding Yining / SHINE
David Evendon Challis, chief scientific officer & chief marketing officer of Bayer Consumer Health, said that “We expect this type of collaboration model in Shanghai to serve as a flagship and a role model for other regions around the globe.”
It will utilize the infrastructure of Shanghai Pharma-backed SH-INNO, a life science innovation incubator, to fully leverage the geographical advantages, industry influence, and market network to allow the company to better work with local partners and drive project implementation.
Bayer’s consumer health division currently ranks China as its second-largest market and anticipates it to grow at the fastest rate in the next three to five years. The vibrant economic and social landscape of China presents unique opportunities to improve and expand self-care solutions.
“We greatly value the innovation-friendly environment fostered by the local government, which allows us to collaborate with local partners and tap into the strong talent pool,” said Arturo Sanchez, head of commercial operations of Bayer Consumer Health Asia-Pacific and Latin America .