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AstraZeneca launches traditional medicine innovation center china

The multinational pharmaceutical giant AstraZeneca plans to establish a traditional Chinese medicine (TCM) industry innovation center in Sichuan province, southwest chinalocal authorities said.

AstraZeneca signed an online agreement with China’s Chengdu Hi-Tech Industrial Development Zone to jointly launch the center that will incubate and empower the modern T&CM industry, the zone said.

The center integrates a research institution led by academics and platforms that offer support to the TCM industry, the business modernization and to clinical marketing.

Read more: China closes streets, tightens measures against coronavirus

AstraZeneca set up its western China headquarters in the Chengdu High-Tech Zone in November 2020. The regional headquarters started operations in September last year.

Chengdu High-tech Zone has more than 3,000 medical companies. In the first quarter of 2022, the industrial production and industrial value added of the main medical and health companies in the area increased 14.2 percent and 8 percent, respectively, compared to the same period last year.

AstraZeneca entered China in 1993 and achieved a total revenue of $37.4 billion worldwide in 2021, of which $6 billion came from the Chinese market. Headquartered in London, AstraZeneca focuses on the treatment of respiratory, cardiovascular, metabolic, renal and digestive diseases.

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