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AstraZeneca to invest in China
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BRITISH-SWEDISH drugmaker AstraZeneca plans to invest more than US$800 million in China in the next 10 years and strengthen cooperation with local partners, especially in the biologics sector.
AstraZeneca strengthened collaboration between its biologics unit MedImmune and local research organization Wuxi AppTec.
The UK company has an option to acquire WuXi AppTec’s biologics manufacturing capacity in Wuxi with an overall investment valued around US$100 million.
“These initiatives will allow us to connect local untapped pharmaceutical needs with our global portfolio,” said Mark Mallon, executive vice president of International businesses at AstraZeneca.
The drugmaker will also invest US$50 million to expand its development and launch facility on top of its existing manufacturing site in Wuxi to support both local and overseas markets.
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