Gracell Biotechnologies acquisition marks China’s growing importance to the Anglo-Swedish drugmaker
AstraZeneca has struck a deal to buy a Chinese cancer therapy company for up to $1.2bn (£950m), as Britain’s biggest drugmaker expands its footprint in its second-largest market.
The Anglo-Swedish pharmaceutical firm announced on Tuesday it would acquire Gracell Biotechnologies, which is focused on a type of cancer therapy known as CAR-T that modifies a patient’s cells to fight the disease.
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