ISTANBUL 

British drugmaker AstraZeneca plans to invest $15 billion in China through 2030 to "pioneer the next-generation of innovative medicines," the firm announced Thursday as British Prime Minister Keir Starmer visited Beijing.

"This investment will leverage the country’s scientific excellence, advanced manufacturing, and China-UK healthcare ecosystem collaborations to deliver cutting-edge treatments to patients across China and globally," the firm said in a statement.

The announcement marked the largest deal reached thus far during Starmer's China trip.

Pascal Soriot, CEO of AstraZeneca, stated that it was the business's biggest investment in China, where it has been the leading foreign pharmaceutical company for almost 30 years. About 12% of their revenue comes from China.

During Soriot's time as CEO since 2012, AstraZeneca has made billions of dollars in investments in the nation, including $2.5 billion in a Beijing research and development hub in March last year—its second since a Shanghai site opened in 2024.

The firm said that those centers have assisted in conducting international clinical studies and collaborate with over 500 hospitals in China.

The pharmaceutical company claimed that China was a recognized leader in new treatment procedures like cell therapy and radioconjugates, and that the new agreement would strengthen its skills in these areas.

AstraZeneca announced that it would become the first international biopharmaceutical business with end-to-end cell treatment capabilities in China, building on its 2024 acquisition of Gracell Biotechnologies.

According to the firm, the investment will also aid in the development of therapies for autoimmune illnesses, cancer, and blood disorders as well as the expansion of production facilities in Wuxi, Taizhou, Qingdao, and Beijing, which it claimed sell pharmaceuticals to 70 markets worldwide in addition to China.

The firm added that the investment will increase the number of its employees in China to above 20,000.

"Unlocking opportunities for British businesses across the globe and delivering for working people back home is always the driving force behind my international engagements. AstraZeneca’s expansion and leadership in China will help the British manufacturer continue to grow - supporting thousands of UK jobs," Keir Starmer said.