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Lujiazui to attract more multinational regional headquarters

english.pudong.gov.cn Updated:2021-08-31

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The financial district of Pudong New Area. [Photo by Gao Erqiang/China Daily]

Gilead (Shanghai) Pharmaceutical Technology Co was recognized as the company's regional headquarters recently, becoming the 127th multinational regional headquarters in Lujiazui, the financial center of Shanghai.

Founded in 1987, Gilead Sciences is an R&D-based biopharmaceutical company, which is dedicated to providing innovative and simplified treatment options for patients with critical illnesses around the world.

In 2016, the company officially established its Chinese headquarters in Shanghai for commercial operations.

Gilead (Shanghai) Pharmaceutical Technology Co was established in Lujiazui on March 21, 2017. It is mainly engaged in the technical development of pharmaceutical products, the transfer of its own technological achievements, as well as related technical services and technical consulting business activities.

The company's drug used for HIV pre-exposure prevention for uninfected people was approved in China in August 2020. It is the world's first drug of this kind, as well as the only one approved  in China currently.

Currently, one sixth of all regional headquarters of multinational companies in Shanghai are located in Lujiazui, making it the most concentrated area for multinational company regional headquarters in Shanghai.

According to the recently released 14th Five-Year (2021-25) Plan for the Development of the Lujiazui Area in China (Shanghai) Pilot Free Trade Zone, Lujiazui will be developed in to a world-class cluster of regional headquarters of multinational companies. The number of such firms in Lujiazui is expected to reach 200 by 2025, accounting for about 20 percent of the city's total.

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