AstraZeneca wins investment award

Global pharmaceutical giant AstraZeneca has been recognised for its investment activities with an award.

The company, which has an operations base in Britain, received the UK Outward Investor of the Year 2007 title from the 48 Group Club in a ceremony held this week at the Guildhall in London.

Established 54 years ago, the 48 Group Club has a number of business members drawn from all sectors of industry and promotes trade with China.

In recognition of the firm’s investment activities in China, the award is contested by many UK businesses in a variety of sectors which have been enhancing their operations in the Far East nation.

“Our Innovation Centre China, announced last year, will be one of the most advanced scientific research centres outside of our traditional areas of UK, Sweden and [the] USA,” commented John Ramsey, vice-president of development at the company.

He added that the AstraZeneca plant located in Wuxi is the company’s biggest manufacturing site in the whole of Asia.

Earlier this month, the firm announced it has acquired a UK biotechnology business which develops and uncovers anti-viral medicines.

The total purchase deal for the privately-owned Arrow Therapeutics came to $150 million (77 million pounds) cash and is part of the strategy currently pursued by AstraZeneca to enhance its portfolio of anti-infective remedies.