UK-based pharmaceutical giant AstraZeneca (NASDAQ: AZN) is significantly expanding its presence in China through a strategic partnership with the municipal government of Qingdao, Shandong province. The collaboration encompasses the establishment of a manufacturing and supply base, regional headquarters, a rare disease innovation center, a life science innovation park, and an industrial fund.
Strategic Collaboration
The partnership between AstraZeneca and Qingdao’s municipal government focuses on creating an innovation ecosystem. This includes enhancing commercial circulation, funding cooperation, organizing forums and exhibitions, and advancing joint research and development projects. These initiatives aim to strengthen the city’s position as a hub for pharmaceutical innovation and support the growth of the local life sciences sector.
Manufacturing and Supply Base
A key component of this investment is the setup of a manufacturing supply base for Breztri Aerosphere (budesonide, glycopyrrolate, formoterol), an aerosol inhalant used for treating chronic obstructive pulmonary disorder (COPD). This drug received marketing approval in China in 2020 and was included in the National Reimbursement Drug List (NRDL) in 2021, highlighting its importance in AstraZeneca’s portfolio.-Fineline Info & Tech
