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AstraZeneca to invest £11bn in China after snubbing Britain
['Matt Oliver', 'Thu January At Pm Gmt', 'Min Read']
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AstraZeneca is the largest drugs company in China, which is the company’s second-biggest market - Tang Yanjun/China News Service via Getty ImagesAstraZeneca has unveiled plans to invest $15bn (£11bn) in China just months after dropping hundreds of millions of pounds of investment in Britain.
The Prime Minister hailed the financing as a deal that would help to support British jobs back home.
But the announcement follows a period of frosty relations between the Government and AstraZeneca which has seen the drugmaker threaten to halt investment in Britain in a row over NHS pricing.
The president of its China division was subsequently placed under investigation by local police, with no further details provided.
Astra is the largest drugs company in China, which is the company’s second-biggest market after the US.