As part of its move to begin sourcing its APIs in China, AstraZeneca announced it would begin purchasing Lactam, a key chemical ingredient used to make Seroquel, its atypical schizophrenia drug, from contract manufacturers in China. Seroquel, which has patent protection until 2011, produced revenues of $3.4 in 2006. AstraZeneca has set a goal for itself to reduce its production expenses by $900 million in three years. More details...

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