U.K. biopharmaceutical company AstraZeneca joined Chinese tech giant Tencent in signing a Memorandum of Understanding (MoU) for strategic cooperation. 

According to the agreement, the two companies will harness the power of big data-driven internet technologies to more accurately and effectively crack down on the online sale of counterfeit drugs, and will work together to build a new model for online drug safety management as part of a larger "Smart Healthcare" push. 

Leon Wang, executive vice president, international and China president of AstraZeneca, said: "Smart healthcare is a powerful tool in the push to realize our larger 'Healthy China' objectives, and is contingent upon one’s ability to use medicines safely."

Ma Bin, vice president of Tencent, said,"Tencent will combine the powerful technologies of our Tencent United Security Laboratory and its Anti-FraudLab with the healthcare expertise of AstraZeneca to showcase the power of cooperation, and to strengthen collaboration in anti-counterfeit efforts, information sharing, case consultation, the creation of green authentication channels, and communication with law enforcement authorities."

2018 marks the 25th anniversary of AstraZeneca's presence in China. Over this past quarter century, AstraZeneca has brought 30 innovative drugs to China, and has invested a total of US&750 million in China for the purpose of pharmaceutical innovation. The company also invests in collaborative innovation and R&D models to help China improve its ability to develop new drugs, and actively cooperates with government agencies to fight counterfeit drugs and ensure the safe consumption of medicine. China has been AstraZeneca's second largest market globally.

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