AstraZeneca to build new facility for diabetes meds in China
British pharma major AstraZeneca (LSE: AZN) is to invest around $25 million in a new manufacturing facility in Taizhou, Zhejiang province, China.
Located around 300 km south of Shanghai, the city is home to around 2 million people and is the center of China's first high-tech development zone.
Spread over around 400 square kilometers, the zone incentivizes economic and industrial development in a range of areas, including the life sciences and high-tech manufacturing.
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