AstraZeneca announced that it will invest $2.5 billion to establish a research and development (R&D) center in Beijing. This expansion comes just months after the British pharmaceutical giant faced regulatory scrutiny over import duties in China.
Expanding Workforce and Strategic Partnerships
The new facility will increase AstraZeneca’s Beijing workforce to approximately 1,700 employees. The investment is part of a collaboration with the Beijing Municipal Government and the Beijing Economic-Technological Development Area Administrative Office. Through this partnership, AstraZeneca aims to enhance its innovation pipeline and strengthen its presence in the Chinese healthcare market.
Collaborations to Drive Innovation
AstraZeneca will engage in R&D collaborations with biotech firms Harbour BioMed and Syneron Bio. Additionally, the company will form a joint venture with BioKangtai to develop, manufacture, and market vaccines for respiratory and other infectious diseases. This partnership will also establish AstraZeneca’s first vaccine manufacturing facility in China.
Beijing Hub to Complement Shanghai R&D Center
The Beijing research hub will be AstraZeneca’s second major R&D center in China, complementing its existing facility in Shanghai. As reported by msn.com, CEO Pascal Soriot highlighted that the Beijing center will leverage advanced biology and AI science, playing a key role in AstraZeneca’s global mission to bring innovative medicines to patients worldwide.
