AstraZeneca: establishes Chinese healthcare investment fund
(CercleFinance.com) - AstraZeneca has signed an agreement with CICC, one of China's biggest investment banks, to jointly create a healthcare industrial fund which could eventually reach up to 1 billion dollars in size, the Anglo-Swedish drugmaker said on Wednesday.
The fund, which will be the largest healthcare industrial fund established by AstraZeneca, will support domestic companies and partners, including those based at its Wuxi manufacturing site, the company said.
It will also target international companies looking to set up in China, AstraZeneca said.
AstraZeneca also said that it would more than double its Shanghai R&D headcount to around 1,000, while establishing a new AI innovation centre, also in Shanghai.
These announcements were made at the China International Import Expo (CIIE) fair in Shanghai.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The fund, which will be the largest healthcare industrial fund established by AstraZeneca, will support domestic companies and partners, including those based at its Wuxi manufacturing site, the company said.
It will also target international companies looking to set up in China, AstraZeneca said.
AstraZeneca also said that it would more than double its Shanghai R&D headcount to around 1,000, while establishing a new AI innovation centre, also in Shanghai.
These announcements were made at the China International Import Expo (CIIE) fair in Shanghai.
Copyright (c) 2019 CercleFinance.com. All rights reserved.