Overview
- AstraZeneca said the funding will cover drug discovery, clinical development and large‑scale manufacturing across China through 2030.
- The company will expand facilities in Wuxi, Taizhou, Qingdao and Beijing, add new sites to be named, and lift its China workforce beyond 20,000.
- Management highlighted a push into cell therapy and radioconjugates, building on the 2024 Gracell deal to establish end‑to‑end cell therapy capabilities in China.
- The announcement coincided with UK Prime Minister Keir Starmer’s visit to Beijing, with Starmer saying the expansion will support jobs in Britain.
- China is AstraZeneca’s second‑largest market, and the move comes alongside a parallel plan to invest about $50 billion in US operations, even as questions persist over prior investigations including the 2024 detention of a former China executive.