AstraZeneca announced on Friday an investment of $2.5 billion in Beijing to establish its sixth global strategic R&D center together with major research and manufacturing agreements. [Photo provided to chinadaily.com.cn]
AstraZeneca announced on Friday an investment of $2.5 billion in Beijing to establish the pharmaceutical company's sixth global strategic R&D center together with major research and manufacturing agreements.
The investment equals to about 4.6 percent of its entire global revenue last year, which was about $54 billion. The company's revenues in China last year was around $6.41 billion, ranking first place among multinational pharmaceutical companies in China.
The new investment over the next five years is part of a strategic partnership with the Beijing Municipal Government and the Beijing Economic-Technological Development Area Administrative Office, and includes agreements with three biotech companies - Harbour BioMed, Syneron Bio, and BioKangtai, the company said.
It also expects the company's Beijing workforce headcount will grow to 1,700.
Pascal Soriot, CEO of AstraZeneca, said the investment reflects the company's belief in the "world-class" life sciences ecosystem in Beijing, the extensive opportunities that exist for collaboration and access to talent, and its continued commitment to China.
"Our sixth strategic R&D center will partner with the cutting-edge biology and AI science in Beijing and be a critical part of our global efforts to bring innovative medicines to patients worldwide," he said.
The new global strategic R&D center in Beijing, AstraZeneca's second in China following the opening of the Shanghai R&D center, will advance early-stage research and clinical development and will be enabled by AI and data science laboratory. It will be located in the Beijing International Pharmaceutical Innovation Park, close to leading biotechs and research hospitals.
AstraZeneca is also establishing new R&D collaborations in Beijing. For instance, a strategic partnership with the Beijing Cancer Hospital in translational research, data science, and clinical development. It is also signing two collaboration and licensing agreements: one with Harbour BioMed to discover multi-specific antibodies, and one with Syneron Bio to develop macro-cyclic peptides.
In addition, AstraZeneca is launching a new joint venture with BioKangtai, to develop, manufacture, and commercialise innovative vaccines for respiratory and other infectious diseases for patients in China and around the world. This will be AstraZeneca's first and only vaccine manufacturing facility in China.
Besides, to support the development of the Beijing innovation ecosystem, Pascal Soriot, CEO of AstraZeneca, has been invited to join the Beijing International Business Leaders Advisory Council.
