AstraZeneca PLC (AZN) to Invest $200 Million in Chinese Company
1/5/2012 8:20:51 AM
British drugmaker AstraZeneca is showing interest in eastern China's manufacturing plant and will invest $200 million in it, as per the government. It is Britain's second largest drugmaking company. This will be the company's largest investment in a single facility. The construction started on Wednesday at China Medical City in Taizhou in Zhejiang province. According to the reports, it will produce both intravenous and oral solid medicines for the company's growing business in China. The plant will be ready by 2013. It is set to earn six billion yuan ($950 million) annually after it starts operation.