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The Management Committee of Qingdao National High-tech Industrial Development Zone and AstraZeneca Pharmaceuticals (Qingdao) Co., Ltd. recently entered into a framework agreement on strategic cooperation. According to the agreement, AstraZeneca plans to make an additional investment of USD250mln to the inhalation aerosol production and supply base program in Qingdao besides the previously injected USD450mln this March, to ramp up canning capacity and add another packaging line for inhalation aerosol.
“It is a great honor to join hands with Qingdao again to push bilateral cooperation to a higher level. AstraZeneca thinks highly of China’s production and supply lines in terms of resilience and capacity, and is impressed by China’s input into the bio-pharmaceutical industry. Shandong Province has long given play to its industrial strengths to prioritize developing the new and high-tech industry, particularly the bio-pharmaceutical industry. These efforts have created favorable conditions for us to build a world-class manufacturing base in China.” said Pan Bin, global executive vice president of AstraZeneca. (Zhou Wei)