AstraZeneca to invest $2.5 billion in China research and development hub
After China probe, is AstraZeneca’s new US$2.5 billion plan a blueprint for foreign firms?
Daily SumUp · Daily SumUp
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Show Notes
Biopharmaceutical multinational AstraZeneca is not letting a bumpy 2024 dictate its path forward in China, and in the wake of a recent controversy emerges a multibillion-dollar commitment to China-based research – plus the company’s first vaccine-manufacturing facility in the country.
The British-Swedish drug maker, which saw one of its executives detained in China last year, announced a multibillion-dollar investment deal last week, before its CEO attended a global business forum in Beijing.
AstraZeneca inked a US$2.5 billion contract with the city government of Beijing to establish the firm’s sixth global strategic R&D centre, with high-end industrialisation projects conducted in the Chinese capital to advance life sciences throughout the country.
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