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AstraZeneca Forms $265 Million China Drug Development JV with China Fund

publication date: Nov 27, 2017

AstraZeneca formed a strategic joint venture with the Chinese Future Industry Investment Fund (FIIF) to develop and commercialize new drugs in China. FIIF is managed by the state-owned SDIC Fund. The JV, named Dizal Pharma, will take over AstraZeneca's Shanghai Innovation Center, including all of its staff and three projects in pre-clinical development. Dizal, headquartered in Wuxi City, will have $132.5 million in cash, presumably FIIF's contribution, giving the JV, which is equally owned by AstraZeneca and FIIF, a valuation of $265 million. More details....

Stock Symbol: (NYSE: AZN)

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