British pharma-bulldozer AstraZeneca will pump $2.5 billion into a new research and development (R&D) hub. To be part of this ambitious journey that will lead to Beijing. This latest strategic move further highlights WuXi’s conviction to increase its foothold within China and continue to foster new, cutting-edge medicines. The Beijing facility will be AstraZeneca’s global headquarters for R&D.
The investment is part of a big expansion of AstraZeneca’s presence in Beijing, where the company will employ close to 1,700 workers. The forthcoming cut There expansion underscores the growing significance of the Chinese market to the Switzerland-based multinational pharmaceutical company. AstraZeneca's CEO, Pascal Soriot, is scheduled for a live interview on CNBC International to discuss the investment and the company's broader strategy.
The interview is scheduled for 11:30 a.m. London time, which translates to 7:30 a.m. ET. FIND OUT MORE Viewers can watch to learn what’s in store for AstraZeneca, and why the company is making this $1.4 billion investment. The company, with its roots in technology spun out from the University of Cambridge, UK, has a rich history of innovation.
AstraZeneca was created in 1999 through the merger of Astra and Zeneca. In the decades since, it has morphed into one of the largest pharmaceutical corporations on the planet. As it stands, the company has seen huge success in China thus far. This new R&D hub is sure to deepen its competitive angle in that region.
The new facility will skip straight to the development of new medicines, tapping into the area’s deep biotech talent and local resources to accelerate the innovation process. This investment is a key component of AstraZeneca's overall expansion strategy in China, demonstrating its confidence in the country's potential for pharmaceutical research and development. The company is committed to developing innovative solutions for unmet medical needs, driven by forward-looking research at the capital’s headquarters.
