AstraZeneca to invest £11bn in China after rowing back on UK expansion
Keir Starmer says the move, announced during his trip to Beijing, will help support thousands of British jobs
TL;DR
- AstraZeneca will invest $15 billion in China by 2030 for manufacturing and R&D.
- This includes a $2.5 billion research hub in Beijing.
- The investment signals a shift away from paused UK expansion plans.
- Funding will target breakthrough treatments like cell therapy and radioconjugates.
- Existing manufacturing facilities will be expanded, and new sites planned.
- AstraZeneca workforce in China will grow from 17,000 to over 20,000.
- Recent acquisitions include Gracell Biotechnologies and a partnership with Eccogene.
- The company is under investigation in China for alleged unpaid import taxes, data privacy breaches, and fraud.
- Several AstraZeneca staff, including the president of its Chinese subsidiary, were detained in 2024.