AstraZeneca unveils China investment despite ex boss detention

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AstraZeneca unveils China investment despite ex boss detention

AstraZeneca unveils China investment despite ex boss detention
by AFP Staff Writers
London (AFP) Mar 21, 2025

British pharmaceutical giant AstraZeneca on Friday announced plans to invest $2.5 billion in China, despite the detention there of its former head of operations over alleged illegal activity.

The investment over the next five years will fund the company's sixth global strategic research and development centre and grow its Beijing workforce to 1,700 employees, AstraZeneca said in a statement.

The announcement comes with Leon Wang, former president of AstraZeneca China, detained in the country as it investigates potential illegal data collection and drug imports by the group.

Wang, reportedly detained since around the start of November, has been replaced since then by Iskra Reic, who was already a senior executive at the company.

AstraZeneca provided no update on Wang in Friday's statement.

Chinese officials have said they were investigating a number of current and former AstraZeneca employees over the matter.

AstraZeneca chief executive Pascal Soriot said the new investment reflects the company's "belief in the world-class life sciences ecosystem in Beijing, the extensive opportunities that exist for collaboration and access to talent, and our continued commitment to China".

He added that the investment, part of a strategic partnership with Beijing's municipal government, will help to deliver "innovative medicines to patients worldwide" thanks to the use of "cutting-edge biology and AI science".

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