AstraZeneca Introduces Investment of USD2.5 Billion in Beijing
(MENAFN) On Friday, British-Swedish pharmaceutical titan AstraZeneca revealed a USD2.5 billion investment in Beijing, reinforcing its dedication to advancing life sciences in China.
This significant investment will lead to the establishment of the firm's sixth global strategic research and development (R&D) center, marking its second one in China, with the first located in Shanghai.
As part of this initiative, AstraZeneca has formed partnerships with prominent biotech companies, including Harbour BioMed, Syneron Bio, and BioKangtai.
The new R&D center will concentrate on early-stage research, clinical development, and pioneering innovations in biology and artificial intelligence (AI).
Located in the Beijing International Pharmaceutical Innovation Park (BioPark), the facility will be positioned close to leading biotech firms, research hospitals, and regulatory bodies.
AstraZeneca anticipates that its Beijing workforce will expand to 1,700 workers.
Pascal Soriot, CEO of AstraZeneca, emphasized that the USD2.5 billion investment demonstrates the company’s confidence in "the world-class life sciences ecosystem in Beijing" and its ongoing commitment to China. He highlighted the center's potential in advancing global medical innovation.
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