{
  "id": 11140272,
  "title": "Hong Kong needs new funding model to draw investment from global drug makers: AstraZeneca",
  "url": "https://urgent.news/2026/10/01/hong-kong-needs-new-funding-model-to-draw-investment-from-global-drug",
  "topic": "health",
  "section": "Health & Medicine",
  "published": "2026-10-01T08:00:04.000Z",
  "source": {
    "name": "SCMP Business",
    "slug": "scmp-business",
    "url": "https://www.scmp.com/business/article/3369144/hong-kong-needs-new-funding-model-draw-investment-global-drug-makers-astrazeneca"
  },
  "original_language": "en",
  "account": "AstraZeneca, the Cambridge-based pharmaceutical giant, has called for a new funding model in Hong Kong to attract global biotech investments. While major drug makers have been increasing their investments in mainland China, AstraZeneca has brought over 60 clinical trials to Hong Kong and invested over HK$200 million (US$25.5 million) in the past three years. The company's executive vice-president of oncology business, David Fredrickson, emphasized that Hong Kong has excellent science and a modern regulatory system, but needs modern funding to complement them. This modern funding could help cancer patients access personalized medicine and cutting-edge treatments out of pocket. Lung cancer screening, currently limited to cervical, colorectal, and breast screenings, is being promoted by AstraZeneca to include lung cancer as well. Early detection of lung cancer is crucial, as early-stage diagnosis can lead to a five-year survival rate of up to 80%, compared to 15% for late-stage diagnosis. The cost of lung cancer screening varies based on patient risk factors, with smokers requiring higher investment per quality-adjusted life-year (QALY) compared to high-risk non-smokers. Lung cancer was the most common and fatal cancer in Hong Kong in 2023, with 6,111 new cases and 3,880 deaths. AstraZeneca has been pushing for a concrete implementation plan for lung cancer screening, with a strict deadline to deliver real outcomes for residents.",
  "summary": "Hong Kong can attract more global biotech investments if the city builds up a new healthcare financial model, according to AstraZeneca, a Cambridge-based multinational pharmaceutical giant. While global drug makers have been doubling down on investments in mainland China in recent years, AstraZeneca brought over 60 clinical trials to the city and invested over HK$200 million (US$25.5 million)…",
  "key_points": [
    "AstraZeneca seeks new funding model in Hong Kong to attract global biotech investments.",
    "Company invested HK$200 million (US$25.5 million) in Hong Kong over three years."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "South China Morning Post",
        "title": "Hong Kong needs new funding model to draw investment from global drug makers: AstraZeneca",
        "url": "https://urgent.news/2026/10/01/hong-kong-needs-new-funding-model-to-draw-investment-from-global-drug-11145777",
        "published": "2026-10-01T08:00:04.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}