AstraZeneca is looking forward to spin off its business operations in China and rather list it in Hong Kong or Shanghai in order to protect the multinational drugmaker from geopolitical tensions. UK and Europe are falling behind US and China in biotech, says AstraZeneca boss. China has become an important market for AstraZeneca, which is best known in Britain for its Covid-19 vaccine that was developed in association with Oxford University during the pandemic. On acquiring the rare disease specialist Alexion for $39bn (£30bn) in 2020, it identified China as an important market to benefit the company. A spokesperson said: “AstraZeneca does not comment on rumours or speculations around future strategy or mergers and acquisitions.”Commentscomments

Source: Economic Times June 19, 2023 15:13 UTC