Asymchem eyes a major expansion in China

Asymchem Laboratories, a pharmaceutical services firm based in China, has revealed preliminary plans for a $550 million–$700 million project to add research and manufacturing assets at an industrial park in the Jiangsu Taixing Economic Development Zone along the Yangtze River. The company says it plans to manufacture small-molecule active pharmaceutical ingredients as well as finished drugs at the site. Asymchem’s $58 million deal to acquire Snapdragon Chemistry, a US drug services firm specializing in continuous process manufacturing, was blocked by the US Treasury Department in September.