Health
AstraZeneca Invests $2.5 Billion in Beijing Hub Amid Probe
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AstraZeneca Plc will invest $2.5 billion in a new research center in Beijing, in a major show of commitment to China just months after the company’s top executive there was detained by authorities.
The hub — AstraZeneca’s second in the country and a collaboration with the Beijing government — will focus on early-stage research and include an artificial intelligence lab. The investment over five years also covers collaborations with biotechs and a hospital as AstraZeneca tries to capitalize on the booming local sector, where Big Pharma is jostling to secure the next blockbuster to emerge.