AstraZeneca plots China robot offensive to counter price cuts - (London South East via NewsPoints Desk)

  • AstraZeneca is planning to increase investment in technology including artificial intelligence in China in an effort to counter price cuts, as reported London South East Wednesday.

  • The company noted that although partnerships with tech firms such as Alibaba and Tencent will not directly boost sales, it expects a material benefit in the future.

  • "Down the line we benefit, our products benefit, because we have better relationships with doctors and hospital managers and also because we diagnose more patients and they get better treated," commented CEO Pascal Soriot.

  • AstraZeneca currently generates 18 percent of its revenue in China, boosted by the launch of therapies such as roxadustat, which is partnered with FibroGen.

  • The drugmaker has also partnered with Hutchison China MediTech to develop an investigational therapy targeting kidney, lung and stomach tumours.

  • AstraZeneca is also working with the Chinese government to support the joint venture Dizal Pharmaceutical, which is focused on developing drugs domestically.

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