AstraZeneca to Invest $3.5 Billion in the US
Anglo-Swedish drugmaker AstraZeneca plans to invest $3.5 billion in the US to expand the company’s research and manufacturing footprint by the end of 2026.
The investment includes a new R&D center in Cambridge, Massachusetts, a manufacturing facility for biologics in Maryland and expanded capacities for the production of cell therapies on the West and East Coast as well as for the manufacture of specialty products in Texas.
Pascal Soriot, CEO of AstraZeneca, said: “Our multibillion dollar investment reflects the attractiveness of the business environment together with the quality of talent and innovation capabilities here in the United States. By expanding our R&D and manufacturing footprint, we aim to enhance the development of cutting-edge therapies and support the United States leadership in healthcare innovation.”
AstraZeneca said that the planned investments in the US are part of its ambition to achieve $80 billion in total revenue by 2030. According to AstraZeneca, the US is its largest market, generating 44% of total revenue.
