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Pharmaceutical firm AstraZeneca PLC on Thursday unveiled plans to invest $15 billion in China through to 2030, in an announcement that coincides with UK Prime Minister Keir Starmer’s visit to Beijing. Cambridge, England-based AstraZeneca said the move will ‘pioneer the next-generation of innovative medicines’. ‘Today’s landmark investment of $15 billion begins an exciting next chapter for AstraZeneca in China, which has become a critical contributor to scientific innovation, advanced manufacturing, and global public health. By expanding our capabilities in breakthrough treatments like cell therapy and radioconjugates, we will strengthen our contribution to China’s high-quality development and, most importantly, bring next-generation modalities to patients,’ Astra Chief Executive Officer Pascal Soriot said. China represents Astra’s second-largest market, after the US, and Astra employs over 17,000 people there. The company added: ‘Building on its successful ecosystem collaboration with the University of Cambridge and Beijing, AstraZeneca is working with other pre-eminent research and financial institutions - including the University of Oxford, the University of Glasgow, King’s College London, and HSBC - to establish further collaborations between dynamic ecosystems in both countries.’ AstraZeneca shares were 0.6% lower at 13,428.00 pence each in London on Thursday morning. Reuters reported earlier this week that Soriot was to join Starmer in China, with GSK PLC Chair Jonathan Symonds also making the trip. Starmer’s visit to China is the first by a UK prime minister since 2018. Starmer said he made ‘good progress’ on talks on tariffs and visa-free travel to China in his meeting with Xi Jinping, PA reported. Starmer told the president he wanted a ‘more sophisticated’ relationship with China at the start of the meeting, while Xi said relations had been through some ‘twists and turns’ in recent years. ‘We made some really good progress on tariffs for whisky, on visa-free travel to China and on information exchange and co-operation on irregular migration, focusing particularly on small boats and engine parts,’ Starmer said. ‘So a very good, constructive meeting with real outcomes and that’s very much in our national interest.’ Copyright 2026 Alliance News Ltd. All Rights Reserved.
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