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7 AstraZeneca projects to settle in Qingdao

(chinadaily.com.cn) | 2022-11-09

AstraZeneca, the world's leading biopharmaceutical company, has further deepened cooperation with Qingdao after signing seven key projects during the fifth China International Import Expo in Shanghai.

The projects include the AstraZeneca (Qingdao) Inhalation Aerosol Factory, the AstraZeneca Pharma (Qingdao) Co, the Qingdao International Life Science Innovation Park, the Qingdao Smart Medical Innovation Center, and the Health Industry Fund.

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AstraZeneca builds an inhalation aerosol production base in the Qingdao high-tech zone. [Photo/Qingdao News]

AstraZeneca and Qingdao plan to work together to promote the development of the health industry in the city, integrate capital and industrial advantages, and help accelerate the growth of new biomedical enterprises in Qingdao.

Wang Lei, global executive vice-president of the UK pharmaceutical company AstraZeneca, said that China's strategic role in the company's global pharmaceutical supply chain is growing with the arrival of a series of blockbuster projects in the Qingdao National High-tech Industrial Development Zone.

"We really value China's investment and achievements in indigenous innovation. We hope to make good use of the Chinese market to support biomedical innovative development," Wang said.

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The AstraZeneca (Qingdao) Inhalation Aerosol Factory is unveiled on Oct 27. [Photo/Qingdao News]

In June, AstraZeneca announced the establishment of its Qingdao regional headquarters, which focuses on the diagnosis and treatment of rare diseases.

In recent years, the Qingdao high-tech zone has made great efforts to develop its new economy and new industries, and its regional innovation ability and competitiveness have been continuously improved.

The zone's unique geographical advantages, strong technological strength and open investment environment have created a favorable business environment for the biomedical industry and favorable conditions for the development of AstraZeneca, according to local officials.