UK drugmaker AstraZeneca will invest $15 billion in China through 2030 to expand medicines manufacturing and research and development, reports Reuters. The announcement was made as British Prime Minister Keir Starmer visited Beijing.
The announcement marks the biggest deal so far during the trip, as Britain seeks to strengthen ties with Beijing at a time of strained relations with Washington.
AstraZeneca CEO Pascal Soriot said it was the company’s largest investment in China, where it has operated for more than 30 years and is the biggest foreign drugmaker. China accounts for about 12% of its revenue. AstraZeneca has invested billions of dollars in the country during Soriot’s tenure as CEO since 2012, including $2.5 billion in a Beijing research and development hub in March last year, its second after a Shanghai site opened in 2024.