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AZ bulks up China operations, respiratory portfolio

December 17, 2015 2:33 AM UTC

AstraZeneca plc (LSE:AZN; NYSE:AZN) said Wednesday it would build up its presence in China and acquire a global respiratory portfolio from Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) for $575 million in cash. AZ's growth in China -- its second-largest market -- is driven by sales from its respiratory franchise.

AZ gained an option to acquire a biologics manufacturing facility in WuXi City from the WuXi AppTec Inc. subsidiary of WuXi PharmaTech Inc. (Shanghai, China) for $100 million. AZ spokesperson Tracy Rossin said the deal may include either an old or new facility. ...