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UK-Swedish pharmaceutical leader AstraZeneca announced plans to invest an additional $136 million in its aerosol treatment manufacturing facility located in Qingdao, marking the third round of investment in this site. The company will expand its production capabilities for medications targeting asthma and chronic obstructive pulmonary disease (COPD) in Qingdao.
This expansion was revealed yesterday, following a deal signed with the Qingdao High-tech Zone management committee during the eighth China International Import Expo. The Qingdao facility, which initially launched in March 2023 with a $450 million investment, received an additional $300 million to support its development. The plant is scheduled to be operational by 2028.
The company has emphasized its dedication to strengthening its foothold in China and collaborating with local partners to position the country as a global innovation hub for healthcare. Senior executives highlighted that this new phase of growth demonstrates confidence in China’s innovative ecosystem and aligns with the goal of advancing scientific progress and improving public health.
Earlier this year, the company committed to investing $2.5 billion to bolster its local research and development efforts in China, including the opening of a new global R&D center in Beijing last month—its sixth worldwide and second within China. Over the past two years, the firm has invested more than $1.8 billion in China, establishing new facilities in Wuxi, Taizhou, and Qingdao.
Since entering the Chinese market in 1993, the company has introduced over 40 innovative products across a range of therapeutic areas, including oncology, cardiovascular, renal, metabolic, respiratory, digestive, rare diseases, vaccine antibodies, and autoimmune conditions. Last year, its local revenue in China increased by 11%, reaching a record $6.4 billion—comprising about 12% of its total global income, according to its annual financial report.
The company has participated in all eight editions of the China International Import Expo. The current year’s six-day event, held in Shanghai through November 10, features more than 4,100 international companies and covers over 430,000 square meters—setting new benchmarks for participation and exhibition size.
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