AstraZeneca announces $15B investment in China
British pharmaceutical giant AstraZeneca announced on Thursday that it will invest $15 billion in China by 2030 to expand its medicines manufacturing and research footprint, coinciding with a visit to Beijing by UK Prime Minister Keir Starmer.
AstraZeneca chief executive Pascal Soriot was part of a delegation of business leaders accompanying Starmer during the trip, News.Az reports, citing AFP.
In a statement, Soriot described China as a key driver of innovation and production for the global pharmaceutical industry.
“China has become a critical contributor to scientific innovation, advanced manufacturing, and global public health,” Soriot said.
China is AstraZeneca’s second-largest market after the United States, where the company has recently stepped up investments amid political pressure from President Donald Trump.
Speaking at Beijing’s Great Hall of the People, Soriot said the planned spending represents AstraZeneca’s largest-ever investment in China, according to a company spokesperson.
Starmer’s visit marks the first trip to China by a British prime minister since 2018 and comes as several Western leaders seek to rebuild ties with Beijing while reducing reliance on an increasingly unpredictable United States.
“AstraZeneca’s expansion and leadership in China will help the British manufacturer continue to grow, supporting thousands of UK jobs,” Starmer said in remarks shared by the company. He added that creating opportunities for British businesses abroad remains a central aim of his overseas engagements.
Last year, AstraZeneca announced plans to invest $2.5 billion in China over five years to establish a strategic research and development centre. That move came amid controversy after Leon Wang, the former president of AstraZeneca China, was detained as part of an investigation into alleged illegal data collection and drug imports.
AstraZeneca has been operating in China for more than three decades.
By Nijat Babayev
Similar news
