At the AstraZeneca’s (AZ, NASDAQ: AZN) R&D China Science Day, Yicai Global reported that the UK-based pharmaceutical giant is planning to triple its investment in research and development in China over the coming months. This strategic move aims to increase the number of innovative drugs entering the Chinese market, as stated by He Jing, the head of AstraZeneca’s China R&D Center. The company has set an ambitious target of introducing at least 15 innovative drugs to China by 2030.
Expansion of R&D Center and Focus on Cancer Research
Opened in late 2021, AstraZeneca’s China R&D Center is in the process of expanding its workforce to 900 by the end of 2023. Cancer research is the leading therapeutic area for the center, with China taking the lead in global research for diseases such as gastric and liver cancer. A significant portion of the R&D projects, 20%, are in the early stages, indicating a strong pipeline for future drug development.
Local Partnerships and Incubator Program
AstraZeneca has established local partnerships in China, including a co-development agreement with HutchMed for savolitinib and a focus on cell therapies with Cellular Biomedicine Group. Additionally, the company launched the Cosolve incubator last year to support startups and biotechs in addressing real-world challenges. The program has seen substantial engagement, with 9 challenges presented and 47 proposals submitted, demonstrating the active ecosystem of innovation that AstraZeneca is fostering in China.-Fineline Info & Tech
