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AstraZeneca to Invest $800 Million in China; May Buy WuXi AppTech's Biologics Facility for $100 Million

publication date: Dec 16, 2015
AstraZeneca announced plans to invest $800 million in China drug development over the next ten years to speed up development of its portfolio of innovative biologics and targeted medicines for China patients. As part of the plan, AstraZeneca will make WuXi AppTech its designated China biologics manufacturer, though this arrangement will apparently last for only a short time. AstraZeneca secured an option to buy WuXi's smaller biologic facility, located in WuXi City, for $100 million sometime in the next few years and will, presumably, take its biologics manufacturing back in-house. Currently, WuXi is building a larger biologics plant in Shanghai, which will begin operations in 2017. More details....

Stock Symbol: (NYSE: AZN)

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