British pharma giant AstraZeneca to invest $2.5 billion in new China hub

British pharmaceutical giant AstraZeneca announced a $2.5 billion investment in a research and development center in Beijing, boosting its workforce to 1,700 employees. The partnership with the city’s government includes collaborations with biotech firms and the launch of a joint venture to develop vaccines. CEO Pascal Soriot highlighted the center’s role in global innovation efforts, while news of a potential fine from Chinese authorities led to a 1% drop in AstraZeneca’s shares.

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