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Business

Chiyoda aims to grow drug sector into big-time business

TOKYO -- Chiyoda has won a roughly 5 billion yen ($42.1 million) order to build a production plant for injectable cancer drugs, the fruit of an effort to boost non-energy-related sales as crude oil prices flag.

     The Japanese general contractor will begin construction in October on a new building at a Cmic Holdings facility in Tochigi Prefecture. Plans call for bringing the new plant online by the end of 2018, increasing Cmic's output capacity tenfold to an annual 1.2 million vials. Demand for injectable solutions is booming with the development of more cancer drugs.

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