ASTRAZENECA WILL INVEST $100 MILLION IN CHINA
AstraZeneca will spend $100 million over the next three years increasing its R&D efforts in China, the company announced.
The main part of the initiative will go toward establishing the AstraZeneca "Innovation Centre China" (ICC) by the end of 2009. The ICC will focus on translational science, the application of basic scientific research for the direct benefit of patients, by learning about biomarkers and genetics in Chinese patients.
The primary therapeutic in the beginning will be cancer, which is a major cause of death in China, the company said.
AstraZeneca is also expanding its clinical research capabilities by partnering with Chinese organizations, including a $14 million deal with Wuxi Pharmatech for compound collection synthesis. The company already collaborates with Shanghai Jiao Tong University on the genetic causes of schizophrenia.