AstraZeneca Boosts U.S. Investments Despite China Concerns

AstraZeneca has raised its annual sales forecast, bolstered by robust demand for its cancer and rare diseases medicines. The company plans $2 billion in U.S. investment, enhancing its research and manufacturing capabilities. Investors remain uneasy due to ongoing issues in its Chinese market.

Pharmaceutical giant AstraZeneca has again raised its annual sales and profit forecast, following a strong third-quarter performance driven by high demand for its cancer and rare disease treatments.

The firm announced an additional $2 billion investment in U.S. research and development, boosting manufacturing sites in Maryland, Texas, and California, and creating 1,000 high-skilled jobs.

Despite the upbeat forecast, concerns linger over the company's Chinese market, where recent investigations have led to a significant drop in share value, reflecting investor apprehension.

(With inputs from agencies.)