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The Guardian - UK

Business

Julia Kollewe

AstraZeneca to invest £11bn in China after rowing back on UK expansion

AstraZeneca China United Kingdom Sir Keir Starmer Britain

AstraZeneca booth at the China International Import Expo in Shanghai — The company said it would spend the money by 2030 to expand medicines manufacturing and research and development in China. Photograph: Alex Plavevski/EPA

Britain’s biggest drugmaker AstraZeneca is to invest $15bn (£11bn) in China, it announced during Keir Starmer’s visit to the country, just months after cooling on plans for expansion in the UK.

The Cambridge-based company said it would spend the money by 2030 to expand medicines manufacturing and research and development in China, where it already has a big presence. It includes the construction of a $2.5bn research hub in Beijing, which was announced last March.

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