AstraZeneca, a multinational pharmaceutical giant, is planning to set up an innovation center for the manufacture of traditional Chinese medicine drugs in southwest China’s Sichuan Province, according to local Chinese authorities.
The company has signed an online agreement with the high-tech industrial development zone of Chengdu to jointly launch the center, which will incubate and position the modern traditional Chinese medicine industry according to the district officials, says a local Arabic daily.
The center integrates an academic-led research institution and platforms that provide support for the TCM industry, business modernization and clinical marketing. AstraZeneca launched its western China headquarters in the high-tech industrial development zone of Chengdu in November 2020, and the company’s regional headquarters began operations in September last year.
The high-tech industrial development zone of Chengdu has more than 3,000 medical institutions. In the first quarter of 2022, the industrial output and industrial value added of major medical and healthcare companies in the region increased by 14.2 percent and 8 percent, respectively, compared to the same period last year.