AstraZeneca says it would invest $15 billion in China

British pharmaceutical company AstraZeneca said Thursday that it will invest $15 billion in China by 2030 to expand drug manufacturing and research and development, an announcement made during British Prime Minister Keir Starmer’s visit to Beijing.

The announcement is the largest deal reached so far during the trip, at a time when the UK is seeking to strengthen its ties with Beijing amid tense relations with Washington.

Starmer described the pharmaceutical company’s investment as a boost for the UK, in statements included in an AstraZeneca press release.

Although AstraZeneca is making significant investments in the United States, led by a $50 billion manufacturing agreement last year, it continues to develop its business in the second-largest market after several scandals, including the arrest of its president for China in 2024.

Soriot said this is the company’s largest investment in China, where it has been operating for more than 30 years.

AstraZeneca invested billions of dollars in China during Soriot’s tenure as CEO since 2012, including $2.5 billion in a research and development center in Beijing in March last year, the second in China after the Shanghai center, which opened in 2024.