AstraZeneca to inject USD 2.5 billion in new RnD centre, biotech pacts, manufacturing in Beijing
AstraZeneca is also establishing new RnD collaborations in Beijing.;
Beijing: AstraZeneca has announced an investment of USD 2.5 billion in Beijing to establish its sixth global strategic R&D centre together with major research and manufacturing agreements that will further advance life sciences in China.
This investment over the next five years is part of a strategic partnership with the Beijing Municipal Government and the Beijing Economic-Technological Development Area Administrative Office and includes agreements with three biotechs; Harbour BioMed, Syneron Bio, and BioKangtai, and follows the recent Fibrogen announcement. AstraZeneca expects its Beijing workforce to grow to 1,700 employees.
Pascal Soriot, Chief Executive Officer, AstraZeneca, said, “This $2.5 billion investment reflects our belief in the world-class life sciences ecosystem in Beijing, the extensive opportunities that exist for collaboration and access to talent, and our continued commitment to China. Our sixth strategic R&D centre will partner with the cutting-edge biology and AI science in Beijing and be a critical part of our global efforts to bring innovative medicines to patients worldwide.”
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