A flag with the logo of pharmaceutical company AstraZeneca flies outside their facility for biological medicines in Södertälje, south of Stockholm, Sweden on February 8, 2022. Photo by Jonathan NACKSTRAND / AFP.
Beijing: British pharmaceutical group AstraZeneca said Thursday that it would invest $15 billion in China through 2030 to expand its medicines manufacturing and research, during a trip by UK Prime Minister Keir Starmer to Beijing.
"China... has become a critical contributor to scientific innovation, advanced manufacturing, and global public health," AstraZeneca's chief executive Pascal Soriot said in a statement.
China is AstraZeneca's second-largest market after the United States, where the company has recently invested heavily under pressure from President Donald Trump.
"This will be our largest investment in China to date," Soriot said as he accompanied Starmer in China, a company spokesperson told AFP.
Starmer's visit is the first by a British prime minister since 2018, and follows a slew of Western leaders seeking a rapprochement with Beijing as they pivot away from an increasingly unpredictable United States.
"AstraZeneca's expansion and leadership in China will help the British manufacturer continue to grow -- supporting thousands of UK jobs," Starmer said in the statement released by AstraZeneca.
"Unlocking opportunities for British businesses across the globe... is always the driving force behind my international engagements," he added.
AstraZeneca last year announced plans to invest $2.5 billion in China over five years to fund a strategic research and development centre.
The announcement came as Leon Wang, former president of AstraZeneca China, was detained in the country in an investigation into suspected illegal data collection and drug imports by the group.
AstraZeneca has operated in China for more than thirty years.
