Dive Brief:
- AstraZeneca on Thursday announced plans to invest $15 billion in China over the next five years as the global pharmaceutical industry increasingly looks to the country for innovation.
- The investments through the year 2030 will “span the value chain,” including drug discovery, clinical development and manufacturing, AstraZeneca said. The British drugmaker plans to build out existing facilities in Wuxi, Taizhou, Qingdao and Beijing as well as establish new sites that will be announced later.
- U.K. Prime Minister Keir Starmer pointed to the investment, announced during his trip to China, as an example of “unlocking opportunities for British businesses across the globe.” He said it will help AstraZeneca grow, in turn creating jobs for workers at home.
Dive Insight:
China is both a significant market for…
