Investor Updates
AstraZeneca expands in Australia to meet China demand
05 June 2013
UK-based pharmaceutical company AstraZeneca is investing more than A$20 million in its plant in Sydney to expand production of a key asthma medicine ahead of an expected rise in demand from China.
The A$20.2 million investment, earmarked for a third manufacturing line, will nearly double production of the medication from 240 million units a year to 435 million units by 2015.
It is the latest leg of AstraZeneca’s production expansion in Australia following its global sole supplier agreement reached last year with China and Japan.
The move builds on Australia’s reputation as a global centre of medical innovation and proximity to China, where investment-led economic growth is expected to give way to consumer-led growth, including demand for health and medical care.
The company has invested $250 million in Australia over the last decade. According to the online version of Australian Manufacturing, it has invested $80 million in production over the last five years to meet growing demand for its medicines.
AstraZeneca Australia is one of Australia’s largest private-sector investors in medical research and development. It is also Australia’s country’s largest producer of medicines. It exports AS$254 million worth of products every year, a figure it expects to rise to AS$340 million by 2015 when the manufacturing equipment is fully installed.
AstraZeneca is a global biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines for a range of disease including heart, cancer, autoimmune and respiratory conditions. It employs 51,700 people worldwide, including 1000 in Australia.
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