AstraZeneca announces $15b investment in China

AstraZeneca announced on Thursday that it plans to invest more than 100 billion yuan ($15 billion) in China by 2030 to expand its pharmaceutical manufacturing and research and development footprint.

The British drugmaker said it will leverage China's scientific research strengths and advanced manufacturing capabilities, as well as cooperation between the Chinese and British healthcare ecosystems, to deliver innovative medicines to patients globally.

Pascal Soriot, CEO of AstraZeneca, said the investment marked a new chapter for the company's development in China, which he described as a major force in scientific innovation, advanced manufacturing, and global public health.

Through the investment, AstraZeneca will expand its capabilities in cell therapy and radioconjugate drugs, strengthening its diversified pipeline to benefit patients with cancer, haematological, and autoimmune diseases, the company said.

The investment will cover the full value chain from drug discovery and clinical development to manufacturing, and will include cooperation with Chinese biotechnology companies.

Building on its 2024 acquisition of Gracell Biotechnologies, AstraZeneca said it will become the first global biopharmaceutical company to have end-to-end cell therapy capabilities in China.

The company said the investment will further strengthen its research and development presence in China — including its global strategic R&D centers in Beijing and Shanghai — which collaborate with more than 500 hospitals and have led numerous global clinical trials over the past three years.

AstraZeneca will also upgrade its manufacturing sites in Wuxi, Taizhou, Qingdao, and Beijing, and will announce plans for new production facilities in due course. Its existing sites supply innovative medicines to patients in China and more than 70 markets worldwide.

Following the investment, AstraZeneca's workforce in China will exceed 20,000 employees, the company said, with thousands of additional jobs expected to be created across the healthcare ecosystem.

The announcement was made during British Prime Minister Keir Starmer's visit to China and is expected to further strengthen cooperation between the two countries in healthcare innovation.