AstraZeneca to base new R&D center in Jing'an

Pharmaceutical giant AstraZeneca unveiled a new research and development center during the third China International Import Expo.

The UK-based company signed a strategic cooperation with the Jing’an government during the second China International Import Expo last year. The founding of the AstraZeneca Global R&D (China) is one of the fruits.

According to the company, the new R&D center will be based at the EDGE plaza in Jing’an. It will focus on R&D and AI innovation, and it will gather resources, skills and talent to help Jing’an build a biopharmaceutical industry cluster and innovation highland.

AstraZeneca also plans to set up a sales company in Jing’an. Together, they are expected to generate annual tax revenues over 200 million yuan (US$30.3 million).

Jing’an will continue to provide efficient and precise services to welcome more enterprises, said Yu Yong, Party chief of Jing’an.

China is the second-largest market for AstraZeneca which ranks 12th in the world’s top 50 pharmaceutical companies. It has imported more than 30 innovative drugs and advanced devices related to the treatment of respiratory, cardiovascular, metabolic and other major diseases.

This year, the company joined with the University of Oxford to develop a vaccine against the novel coronavirus. Results of the final-stage trial are expected to be published by the end of this year, according to the company.