Suzhou Lederle Pharmaceutical Company Ltd.

MIGA issued a guarantee for $7 million against the risk of expropriation to American Cyanamid Company (ACC) of the United States for its investment in a facility to produce pharmaceuticals. The 50-50 joint venture between ACC and a Chinese state enterprise, Suzhou Number Six Pharmaceutical Factory, will primarily serve the domestic market in China. Advanced technology will be used to make high quality pharmaceuticals and distribute them in areas of China where they were not previously available. The enterprise will procure most of the raw materials locally and will use Chinese contractors and distributors. It will directly employ 314 Chinese workers, who will benefit from extensive training programs. This is MIGA's first guarantee to a pharmaceutical company.