AstraZeneca Doubles Down on 'Made in China' with Additional Investment in Qingdao Inhalation Aerosol Production and Supply Base

China Finance and Economics News, August 29 — At the Fifth Qingdao Summit for Leaders of Multinational Corporations held yesterday, AstraZeneca announced the signing of a strategic cooperation framework agreement with the Management Committee of Qingdao High-tech Industrial Development Zone. This will further increase investment in AstraZeneca's Qingdao inhalation aerosol production and supply base project to expand production capacity and continue building a world-class intelligent and green pharmaceutical factory.

This is the second capital increase since AstraZeneca officially announced the investment in building a new production and supply base in Qingdao in March 2023, with the total investment amount for the project increasing to 7.5 billion US dollars. Over the years, AstraZeneca has continuously increased its investment in China's manufacturing, with the cumulative total investment exceeding 20 billion US dollars.

AstraZeneca's Qingdao Production and Supply Base Project Marks a "Zero Breakthrough" for Multinational Pharmaceutical Manufacturing Projects in Shandong Province. During the implementation of the base project, it received strong support from relevant government departments, achieving the signing, land acquisition, and construction permit approval all within the same year, showcasing "China Speed." As of July 2024, the base’s factory buildings have entered the comprehensive main structure construction phase, with some structures already topped off. All factory buildings are expected to be topped off by the end of this year.

"As a long-time friend who has participated in the Multinational Leaders Qingdao Summit for four consecutive years, AstraZeneca continues to invest in China-produced products and deepen its regional presence in China through this important international exchange and cooperation platform. The additional investment in the Qingdao production and supply base will further expand AstraZeneca's drug production capacity in the respiratory disease field, benefiting more Chinese patients," said Leon Wang, Executive Vice President of AstraZeneca, President of International Operations, and President of AstraZeneca China. He added that in the future, the company will continue to focus on respiratory and rare disease fields, collaborating with partners from all sectors to drive breakthroughs in Shandong’s biopharmaceutical industry innovation and foster new productive forces. Leveraging AstraZeneca’s global network, the company will also promote regionally innovative achievements that blend Eastern and Western strengths onto the global stage."

Moreover, in the respiratory field, AstraZeneca has supported the Qingdao Municipal People's Government in hosting the Qingdao Respiratory Industry Conference and Respiratory Week for two consecutive years, collaborating with cross-disciplinary forces to help Shandong's Qingdao build a respiratory health industry ecosystem. In the rare disease field, continuous efforts have been made to promote the construction of regional diagnosis and treatment centers for rare diseases, partnering with industry players to initiate the Rare Disease Industry Development Alliance, fostering a cluster of leading enterprises in the rare disease sector, and contributing to the upgrading of Shandong’s biopharmaceuticals industry.

At the same time, AstraZeneca's Qingdao regional headquarters was officially inaugurated and began operations in October 2023. Relying on the Qingdao regional headquarters, AstraZeneca focuses on two major treatment areas: respiratory and rare diseases, successively establishing the Qingdao International Life Science Innovation Park and the Qingdao Smart Healthcare Innovation Center to empower industrial and regional innovation ecosystem development in multiple dimensions. Currently, the Qingdao International Life Science Innovation Park has linked more than 60 high-quality projects in the fields of rare diseases, respiratory conditions, and chronic disease diagnosis and treatment ecosystems, and has implemented three digital healthcare and bio-testing projects. The Qingdao Fund under AstraZeneca’s CICC Healthcare Industry Fund, with the strong support of several local government-guided funds, market-oriented mother funds, and industrial funds in Shandong Province, is also about to be officially put into operation.