AstraZeneca(US:AZN) GUOTAI HAITONG SECURITIES·2026-02-03 03:45Investment Rating - The report assigns an "Overweight" rating for the industry, indicating a projected increase of over 15% relative to the CSI 300 index [10]. Core Insights - AstraZeneca announced a plan to invest $15 billion in China during the visit of the UK Prime Minister, focusing on cell therapy and radiolabeled conjugates [2][5]. - This investment aims to enhance drug manufacturing and R&D capabilities, leveraging China's scientific strengths and advanced manufacturing [5]. - The investment will significantly boost AstraZeneca's capabilities in new treatment modalities, particularly in addressing cancer, blood diseases, and autoimmune disorders [5]. - The investment will cover the entire value chain from drug discovery to clinical development and manufacturing, with collaborations with leading biotech companies [5]. - AstraZeneca will establish global strategic R&D centers in Beijing and Shanghai, expand existing production bases, and increase its skilled workforce in China to over 20,000 [5]. Summary by Sections Investment Highlights - AstraZeneca's $15 billion investment will be allocated primarily to cell therapy and radiolabeled conjugates [5]. - The investment is expected to enhance AstraZeneca's R&D pipeline and manufacturing capabilities in China [5]. Strategic Collaborations - The investment will involve partnerships with leading biotech firms, aiming to bring Chinese innovations to the global market [5]. Workforce Expansion - AstraZeneca plans to expand its workforce in China to over 20,000 skilled employees as part of this investment [5].