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AstraZeneca Signs $26.5 Million Deal to Build Production Line in China for Type-2 Diabetes Drug

publication date: Jan 18, 2024

AstraZeneca signed an investment cooperation agreement with the Taizhou National Medical High-tech Development Zone in Jiangsu province to build a new production line in its existing Taizhou manufacturing plant. The agreement calls for the fund to underwrite a new $26.5 million production line for a diabetes therapy that the company launched in China last November. AstraZeneca’s Xigduo XR, a once-daily, fixed dose of dapagliflozin and metformin hydrochloride, is a type-2 diabetes therapy aimed at the large global market for weight loss. AstraZeneca has a large presence in China, which became larger this year after it signed a $1.2 billion deal to acquire China-US CAR-T developer Gracell Biotech. More details....

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