AstraZeneca's CEO, Pascal Soriot, announced a £2 billion investment in China, emphasizing their confidence in Beijing's exceptional life sciences environment. This move comes after the company's local executive was detained by Beijing police for suspected illicit activities. AstraZeneca plans to allocate $2.5 billion (£2.1 billion) in Beijing over the next five years to establish a new research center. The company has also finalized partnerships with Chinese biotech firms Harbour BioMed, Syneron Bio, and BioKangtai.

This initiative will lead to an expansion of AstraZeneca's Beijing workforce to 1,700 employees, up from approximately 600 presently. Despite being the largest pharmaceutical company in China and having 12% of its revenues from the nation, AstraZeneca is facing challenges related to alleged illegal drug imports involving its cancer medication Imjudo.

Additionally, over 100 former sales representatives in China have been imprisoned for suspected involvement in medical insurance fraud, damaging the company's stock value. Despite these issues, AstraZeneca is optimistic about the life sciences sector and partnership opportunities in Beijing. Pascal Soriot's inclusion in the Beijing International Business Leaders Advisory Council further highlights the company's commitment to China.

Contrary to the China investment, AstraZeneca recently canceled plans for a £450 million vaccine plant in Liverpool as government financial support decreased. The government's reduced financial backing led to this decision, disappointing both the company and officials. Pascal Soriot acknowledged the setback, mentioning that such challenges are common in the business world.