The firm, based in Cambridge, UK, stated the investment will aid in “developing cutting-edge pharmaceuticals.”
“Today’s significant investment of $15 billion initiates an exciting new period for AstraZeneca in China, which has evolved into a pivotal force in scientific advancement, sophisticated production, and worldwide healthcare. By growing our capacities in sophisticated treatments such as cellular therapies and radioconjugates, we will reinforce our contribution to China’s high-caliber advancement and, most importantly, supply patients with next-generation medications,” commented Astra CEO Pascal Soriot.
China represents AstraZeneca’s second-largest market after the United States, with the organization employing over 17,000 individuals within the country.
The enterprise further remarked: “Capitalizing on its fruitful alliance with the University of Cambridge and Beijing, AstraZeneca is collaborating with additional prominent academic and financial entities — including the University of Oxford, the University of Glasgow, King’s College London and HSBC — to forge further collaborations between the dynamic ecosystems of both nations.”
AstraZeneca stock decreased by 0.6% in London on Thursday morning, reaching 13,428 pence each.
Earlier this week, Reuters indicated that Sorio would accompany Starmer to China, and GSK chairman Jonathan Symonds would also be undertaking the journey.
Starmer's visit to China marked the initial one by a British prime minister since 2018. According to the PA, Starmer expressed that he had made “notable headway” in discussions concerning tariffs and visa-free entry to China during a meeting with Chinese President Xi Jinping.
Starmer communicated to the president his desire to witness a “more evolved” relationship with China, while Xi observed that the connection had encountered “certain ups and downs” in recent times.
“We've achieved genuinely significant progress on tariffs for whisky, visa-free travel to China, and information exchange and cooperation on unauthorized migration, especially concerning small vessels and engine components,” Starmer stated.
“Therefore, the meeting proved highly fruitful and constructive with tangible outcomes — entirely aligned with our national interests.”
Source: Reuters