AstraZeneca is set to make one of its first acquisitions in China, announcing plans to acquire Gracell Biotechnologies for up to $1.2bn to increase its investment in cell therapies for treating cancer.
The Anglo-Swedish drugmaker has been trying to use its status as one of the largest drugmakers in China by sales to hunt for potential deals.
But, like rival large pharmaceutical companies, it has mainly signed licensing agreements for particular drugs, rather than outright acquisitions.
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