AstraZeneca announced on Friday the investment of $2.5 billion in Beijing to establish its second strategic research and development (R&D) center in China and sixth worldwide. AstraZeneca projects its Beijing staff count will reach 1,700 personnel.
"This $2.5 billion investment reflects our belief in the world-class life sciences ecosystem in Beijing, the extensive opportunities that exist for collaboration and access to talent, and our continued commitment to China," AstraZeneca Chief Executive Officer Pascal Soriot noted.
The five-year capital injection includes a strategic partnership with Beijing's Municipal Government and Economic-Technological Development Area Office, encompassing collaborations with three biotech firms: Harbour BioMed, Syneron Bio, and BioKangtai.
