(Yicai) Nov. 6 -- UK-Swedish drug giant AstraZeneca said it will invest another USD136 million in its factory for aerosol treatments in the eastern city of Qingdao, marking its third injection into the plant.

AstraZeneca will expand the production of drugs for asthma and chronic obstructive pulmonary disease in Qingdao, the London-based company announced yesterday, citing a deal it inked with the management committee of the Qingdao High-tech Zone at the eighth China International Import Expo on the same day.

The Qingdao project launched in March 2023 with AstraZeneca initially investing USD450 million, before pouring another USD300 million. The plant is expected to go live by 2028.

AstraZeneca has always been committed to deepening its presence in China and working with local partners to help the country become an important hub for global healthcare innovation, said Executive Vice President and Head of International Business Iskra Reic.

The new expansion reflects AstraZeneca's confidence in the innovation ecology in China and its vision of working together to promote scientific progress and common health, Reic pointed out.

Earlier this year, AstraZeneca said it would invest USD2.5 billion to enhance its local innovation capabilities in China, opening a new global research and development center in Beijing last month as the core part of this investment plan. This is its sixth such center worldwide and second in the country.

AstraZeneca had already invested more than USD1.8 billion in China over the last two years, building new facilities at its factories in Wuxi, Taizhou, and Qingdao.

Since entering China in 1993, AstraZeneca has brought more than 40 innovative products to the country, covering tumors, cardiovascular, renal, metabolic, respiratory, digestive, rare diseases, vaccine antibodies, and autoimmune diseases. Its local revenue rose 11 percent to record USD6.4 billion last year from the previous year, accounting for 12 percent of its total income, according to its annual financial report.

AstraZeneca has attended all eight editions of the CIIE. This year's six-day trade fair, which is being held in Shanghai through Nov. 10, has gathered more than 4,100 foreign companies in an exhibition area of more than 430,000 square meters, both setting new records.

Editor: Martin Kadiev