AstraZeneca CEO Pascal Soriot declared the UK and China "a great match" for scientific collaboration during Friday's UK-China Business Forum in Beijing, coinciding with UK Prime Minister Keir Starmer's diplomatic visit. The pharmaceutical giant announced a 100-billion-yuan ($15 billion) investment plan for the Chinese mainland through 2030, targeting expanded R&D capabilities and advanced pharmaceutical manufacturing infrastructure.
Soriot emphasized China's accelerating contributions to biopharmaceutical innovation, stating: "This partnership isn't just about commercial growth – it's about solving global health challenges through shared expertise." The commitment follows Beijing's recent policy reforms streamlining drug approvals and strengthening intellectual property protections.
Business analysts note the timing aligns with renewed UK-China engagement, as Prime Minister Starmer's administration seeks to balance economic partnerships with geopolitical considerations. The investment is expected to create 1,500 high-tech jobs in Shanghai and Wuxi by 2028, with particular focus on oncology and respiratory therapy development.
