AstraZeneca’s China math, Q2 2026: 📉 China revenue: -13% (VBP pricing pressure, generic competition) 📈 China dealmaking: $16B+ committed since 2025 (incl. $18.5B CSPC obesity pact) Not a retreat. AZ is de-weighting China as a sales market, re-weighting it as an R&D supply chain. That’s a new trend
