AstraZeneca to invest $2.5bn in drugs research and manfacturing in Beijing
Pharma company will invest money over five years in ‘strategic partnership’ after ditching UK expansion
AstraZeneca will invest $2.5bn (£1.9bn) in research and manufacturing in Beijing, as the pharmaceutical company tries to move past recent controversies including ditching plans for the expansion of a UK vaccine plant and the detention of top executives in China.
The investment will be staggered over the next five years as part of a “strategic partnership” with the city’s authorities and includes agreements with three local biotech companies.
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