The 5% decrease in full-year 2017 sales might have disappointed AstraZeneca investors, but China remained a propeller of growth. The British pharma is now stepping up its game there through two new deals with Chinese internet giants Alibaba and Tencent.
The strategic partnership with Alibaba’s Ali Health will leverage the latter’s expertise in the internet and artificial intelligence to focus on the so-called smart health services, which include patient education, chronic disease prevention and management, as well as future AI-assisted clinical screening and diagnosis.
Its tie-up with Tencent involves harnessing the power of big data to fight online sales of counterfeit drugs. AstraZeneca will contribute its medical knowhow, while Tencent will use its social scenario-learning system to identify illegal drug sales.
AstraZeneca inked those two deals while CEO Pascal Soriot joined a business delegation accompanying U.K. Prime Minister Theresa May on her visit to China. They also came about two months after the company turned its R&D center in China into a joint venture with a state-backed private equity fund.