AstraZeneca splashes out in far east despite China's ailing economy

Anglo-Swedish drugmaker buys Japanese lung drug portfolio and forges alliance with Chinese biologics firm

AstraZeneca is splashing out hundreds of millions of pounds on buying the lung drug portfolio of Japan's Takeda and deepening its presence in China, despite the country's recent slowdown.

The Anglo-Swedish drugmaker wants to create a new global hub for drug development in China alongside those in the UK and Sweden, with up to 50 scientists based in Shanghai and Wuxi City. China is AstraZeneca's second-biggest market by sales after the US, and one of its fastest growing areas.