{"id":12465,"date":"2023-06-05T15:00:18","date_gmt":"2023-06-05T15:00:18","guid":{"rendered":"https:\/\/focus.cbbc.org\/?p=12465"},"modified":"2025-04-23T09:31:31","modified_gmt":"2025-04-23T09:31:31","slug":"why-astrazeneca-is-betting-on-innovation-in-china","status":"publish","type":"post","link":"https:\/\/focus.cbbc.org\/why-astrazeneca-is-betting-on-innovation-in-china\/","title":{"rendered":"Why AstraZeneca is betting on innovation in China"},"content":{"rendered":"<h2>The CEO of CBBC member company AstraZeneca, Pascal Soriot, has said that China is \u201ccompletely open\u201d for pharma investment, and added that there has been an \u201cexplosion\u201d of biotech companies in China.<\/h2>\n<p>\u201cIt\u2019s hard to not be impressed by the progress that has been made in China over the last few years,\u201d he said in April.<\/p>\n<p>Some Western governments have been publicly decrying the threat of \u201ceconomic coercion\u201d from China, with countries including the US scrutinising Chinese investment into its biotech centre. However, for AstraZeneca, the geopolitics of the situation is secondary to the market potential.<\/p>\n<p><a href=\"\/lp-cta-gateway\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"aligncenter wp-image-7246 size-full\" src=\"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway.png\" alt=\"launchpad gateway\" width=\"4680\" height=\"786\" srcset=\"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway.png 4680w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway-300x50.png 300w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway-1024x172.png 1024w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway-768x129.png 768w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway-1536x258.png 1536w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway-2048x344.png 2048w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway-1920x322.png 1920w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway-1170x197.png 1170w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway-585x98.png 585w\" sizes=\"(max-width: 4680px) 100vw, 4680px\" \/><\/a><\/p>\n<p>\u201cWhen you are a global company like AstraZeneca you have always to cope with geopolitical risk and you have to try to manage that without getting too involved,\u201d Michel Demar\u00e9, the company\u2019s new chair, told the Financial Times. As long as there were no legal or sanctions issues, he added, \u201cyou just try to take care of your patients and try to reach the most patients you can\u201d.<\/p>\n<div style=\"clear:both; margin-top:2em; margin-bottom:2em;\"><a href=\"https:\/\/focus.cbbc.org\/practical-guide-to-chinas-smart-fitness-and-sports-market\/\" target=\"_self\" rel=\"dofollow\" class=\"u3ebdd0f1214146c0ac6afeab95b54149\"><style> .u3ebdd0f1214146c0ac6afeab95b54149 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#eaeaea; border:0!important; border-left:4px solid #E74C3C!important; box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -moz-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -o-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -webkit-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); text-decoration:none; } .u3ebdd0f1214146c0ac6afeab95b54149:active, .u3ebdd0f1214146c0ac6afeab95b54149:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u3ebdd0f1214146c0ac6afeab95b54149 { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u3ebdd0f1214146c0ac6afeab95b54149 .ctaText { font-weight:bold; color:#E74C3C; text-decoration:none; font-size: 16px; } .u3ebdd0f1214146c0ac6afeab95b54149 .postTitle { color:#000000; text-decoration: underline!important; font-size: 16px; } .u3ebdd0f1214146c0ac6afeab95b54149:hover .postTitle { text-decoration: underline!important; } <\/style><div style=\"padding-left:1em; padding-right:1em;\"><span class=\"ctaText\">Read Also<\/span>&nbsp; <span class=\"postTitle\">Practical guide to China's smart fitness and sports market<\/span><\/div><\/a><\/div>\n<p>AstraZeneca is the largest overseas pharmaceutical company by sales volume in China. A large, <a href=\"https:\/\/focus.cbbc.org\/chinas-ageing-population-problem\/\" target=\"_blank\" rel=\"noopener\">ageing population<\/a> with chronic illnesses due to environmental and lifestyle issues ensures that China is a target market for many drug makers. AstraZeneca, however, is also interested in the scientific expertise in China and the financial support available. \u201cThe innovation power has changed,\u201d Demar\u00e9 told the FT. \u201cIt is no more \u2018copy, paste\u2019. They really have the power to innovate and put all the money in. There\u2019s a lot of start-ups and we are a part of that.\u201d<\/p>\n<p>In 2021, AstraZeneca <a href=\"https:\/\/focus.cbbc.org\/astrazeneca-makes-shanghai-a-global-rd-centre\/\">opened a major R&amp;D centre<\/a> in Shanghai and launched a <a href=\"https:\/\/focus.cbbc.org\/astrazeneca-launch-the-i-campus-health-tech-incubator-in-wuxi\/\" target=\"_blank\" rel=\"noopener\">health tech incubator in Wuxi<\/a> the year before that. And last month, it signed a partnership worth up to US$ 600 million (\u00a3484.5 million) with Shanghai-based LaNova Medicines for the global licence for a potential cancer drug.<\/p>\n<blockquote><p>\u201cWhen you are a global company like AstraZeneca you have always to cope with geopolitical risk and you have to try to manage that without getting too involved\u201d<\/p><\/blockquote>\n<p>Since Soriot took over the company a decade ago, AstraZeneca has continued to invest in research and development in China and seen its success grow. Global executive vice-president <a href=\"https:\/\/focus.cbbc.org\/leon-wang-astrazeneca\/\">Leon Wang<\/a>, who joined in 2013, has also been credited for his innovative approach and has overseen the building of thousands of centres within hospitals to deliver AstraZeneca\u2019s Pulmicort, a drug for asthma and chronic obstructive pulmonary disease.<\/p>\n<p>Soriot said that AstraZeneca\u2019s presence in China enables it to \u201ctap into this innovation and help those companies develop and commercialise their products globally\u201d.<\/p>\n<div style=\"clear:both; margin-top:2em; margin-bottom:2em;\"><a href=\"https:\/\/focus.cbbc.org\/why-uk-china-scientific-collaborations-remain-crucial\/\" target=\"_self\" rel=\"dofollow\" class=\"ud46e879c551bfd7fb0e45e39a5319a38\"><style> .ud46e879c551bfd7fb0e45e39a5319a38 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#eaeaea; border:0!important; border-left:4px solid #E74C3C!important; box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -moz-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -o-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -webkit-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); text-decoration:none; } .ud46e879c551bfd7fb0e45e39a5319a38:active, .ud46e879c551bfd7fb0e45e39a5319a38:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .ud46e879c551bfd7fb0e45e39a5319a38 { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .ud46e879c551bfd7fb0e45e39a5319a38 .ctaText { font-weight:bold; color:#E74C3C; text-decoration:none; font-size: 16px; } .ud46e879c551bfd7fb0e45e39a5319a38 .postTitle { color:#000000; text-decoration: underline!important; font-size: 16px; } .ud46e879c551bfd7fb0e45e39a5319a38:hover .postTitle { text-decoration: underline!important; } <\/style><div style=\"padding-left:1em; padding-right:1em;\"><span class=\"ctaText\">Read Also<\/span>&nbsp; <span class=\"postTitle\">How UK-China scientific collaborations are benefitting the world<\/span><\/div><\/a><\/div>\n<p>AstraZeneca is not seen as a purely foreign company in China because of the sheer number of acquisitions and partnerships with local companies, and they create incubators that support local start-ups.<\/p>\n<p>The Chinese approval process for getting new medicines onto shelves has reduced significantly in recent years, and the regulatory changes regarding insurance coverage have also helped pharmaceutical companies find success in China. Moreover, AstraZeneca\u2019s ability to operate with freedom in China without restrictions from head office has enabled it to act in many ways like a local company. And without the distraction of geopolitics, AstraZeneca is going from strength to strength.<\/p>\n<p><a href=\"\/lp-cta-membership1\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"aligncenter wp-image-7248 size-full\" src=\"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-membership1.png\" alt=\"\" width=\"4680\" height=\"786\" srcset=\"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-membership1.png 4680w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-membership1-300x50.png 300w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-membership1-1024x172.png 1024w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-membership1-768x129.png 768w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-membership1-1536x258.png 1536w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-membership1-2048x344.png 2048w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-membership1-1920x322.png 1920w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-membership1-1170x197.png 1170w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-membership1-585x98.png 585w\" sizes=\"(max-width: 4680px) 100vw, 4680px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The CEO of CBBC member company AstraZeneca, Pascal Soriot, has said that China is \u201ccompletely open\u201d for pharma investment, and added that there has been an \u201cexplosion\u201d of biotech companies in China. \u201cIt\u2019s hard to not be impressed by the progress that has been made in China over the last few years,\u201d he said in April. Some Western governments have been publicly decrying the threat of \u201ceconomic coercion\u201d from China,&hellip;<\/p>\n","protected":false},"author":11,"featured_media":12467,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[130],"tags":[264,195,2427,2312],"class_list":["post-12465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-healthcare","tag-astrazeneca","tag-healthcare","tag-paywall","tag-pharmaceuticals"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Why AstraZeneca is betting on innovation in China - Focus - China Britain Business Council<\/title>\n<meta name=\"description\" content=\"AstraZeneca&#039;s CEO says he&#039;s bullish on China, and wants to continue to help Chinese biotech companies commercialise their products\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/focus.cbbc.org\/why-astrazeneca-is-betting-on-innovation-in-china\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why AstraZeneca is betting on innovation in China - 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