AstraZeneca already considers China one of its most important markets and is increasing its focus there, announcing a $2.5bn research and development investment in Beijing along with three partnerships with Chinese biotechs on 21 March. The agreements with Harbour BioMed, Syneron Bio and BioKangtai bring to at least 20 the number of drug and companion diagnostic alliances AstraZeneca has inked with Chinese firms since 2016, according to Biomedtracker.
Key Takeaways
- AstraZeneca is making a $2.5bn R&D commitment in Beijing, including a vaccine manufacturing site and partnerships with Harbour BioMed and Syneron.
- The agreements add to AstraZeneca’s presence in China, which includes an R&D site in Shanghai and an established respiratory therapy business
AstraZeneca reported on 6 February that its Chinese business brought in more than $6.4bn in 2024, with 11% year-over-year growth at constant exchange rates. That growth occurred despite a 3% revenue decline in the fourth quarter that the UK-based company attributed to a
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