UK pharmaceutical giant AstraZeneca (AZ, NASDAQ: AZN) is set to invest an additional USD 250 million to establish an inhalation aerosol production and supply plant in Qingdao, China. This significant investment follows an earlier cooperation agreement signed in March 2023 between AstraZeneca and the Qingdao city government, which initially focused on the establishment of a pressurized metered dose inhaler (pMDI) base for budesonide, glycopyrrolate, and formoterol in the city, valued at USD 450 million.
Expanding Production Capabilities in Qingdao
The new funding will be utilized to increase canning production and to develop new inhalation aerosol packaging production lines. This expansion will enhance AstraZeneca’s production capabilities in Qingdao, bolstering the company’s commitment to meeting the growing demand for respiratory medications and improving access to its life-saving treatments.-Fineline Info & Tech
