Boston Scientific is investing $150 million over a five-year period to expand its presence in China.

The company plans to roll out its Promus Elemen Everolimus-Eluting Platinum Chromium Coronary Stent in the country during the fourth quarter of 2011, after it received approval from the State Food and Drug Administration of the People's Republic of China in May.

It follows the start of trials of the stent in China in January, which involves 500 patients at 15 locations around the country.

The investment will also support the establishment of a local, wholly owned manufacturing facility focused on serving Chinese market needs.

Boston president and chief executive officer Ray Elliott said the Chinese market for medical devices presents a "significant growth opportunity" for the firm.

"By establishing a strong local manufacturing foundation and supporting infrastructure, we believe we will be better positioned to become a leading medical device company in China, serving the population's burgeoning healthcare needs with innovative products and treatment options," he added.

Source:

Boston Scientific Announces Five-Year, $150 Million Investment in China to Accelerate Commercial Expansion (27/07/11)

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