UK and Swedish pharmaceutical giant AstraZeneca is investing $2.5 billion in Beijing to establish its sixth global strategic research development RD centre, according to a March 21 announcement.
The investment over the next five years is part of a strategic partnership with the Beijing Municipal Government and the Beijing Economic-Technological Development Area Administrative Office and includes agreements with three biotechs Harbour BioMed, Syneron Bio, and BioKangtai.
AstraZeneca expects its Beijing workforce to grow to 1,700 employees.
The move comes after several investigations were launched into the firm by the Chinese government, including into its suspended Chinese president ...
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