AstraZeneca PLC (AZN), Thursday announced announced $15 billion investment in China through 2030 to expand medicines manufacturing and R&D, leveraging the country's scientific excellence, advanced manufacturing, and China-UK healthcare ecosystem collaborations.
The company noted that the investments will strengthen its contribution to China's high-quality development and, most importantly, bring next-generation modalities to patients.
Additionally, the company develop its existing manufacturing facilities in Wuxi, Taizhou, Qingdao, and Beijing, which provide high-quality medicines to patients in China and 70 markets worldwide, together with the establishment of new sites to be announced.
Overall, these investments are expected to grow the company's highly skilled workforce in China beyond 20,000, and generate thousands of additional jobs across the healthcare ecosystem.
AstraZeneca's stock is currently trading at $93.7, up 0.27 percent on the Nasdaq.
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