AstraZeneca and CSPC launch joint venture to build biologics plant in Shijiazhuang

AstraZeneca and China's CSPC Pharmaceutical have formed a joint venture to construct a biologics manufacturing facility in Shijiazhuang. The agreement follows AstraZeneca's pledge earlier this year to invest $15 billion in China by 2030.

Under the deal, CSPC will hold a 51% equity stake while AstraZeneca will own 49%. Both companies will share responsibility for building the plant and its day-to-day operations, combining AstraZeneca's global quality and supply expertise with CSPC's experience in automated, lean manufacturing.

The new site will initially produce mutually agreed biologic drug substances for global markets, with plans to add more products later as the partnership develops.