ASTRAZENECA, Britain’s second-largest drugmaker, has cemented its plans to shift investment into emerging markets, saying yesterday it will invest $200m (£128m) in a new factory in China.
The pharmaceutical giant’s investment will be its largest ever spend on a single manufacturing facility globally.
The unit will produce both intravenous and oral solid medicines for the company’s growing business in China, AstraZeneca said yesterday. Construction is scheduled to be completed at the end of 2013.
AstraZeneca’s turnover in China was more than $1bn in 2010 and the group has made emerging markets a top priority for future growth.