AstraZeneca To Invest $3.5 Bln In US To Expand R&D And Manufacturing

AstraZeneca

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(RTTNews) - British drug maker AstraZeneca Plc (AZN.L, AZN) announced Tuesday a $3.5 billion capital investment in the United States, aiming to expand its research and manufacturing footprint by the end of 2026.

This includes $2 billion of new investment to create more than a thousand new, high-skilled jobs in the US, which is AstraZeneca's largest market, generating 44% of its total revenue.

In the US, the company plans, among others, a state-of-the-art R&D centre in Kendall Square, Cambridge, Massachusetts; a next generation manufacturing facility for biologics in Maryland; Cell therapy manufacturing capacity on the West and East Coasts; as well as Specialty manufacturing in Texas.

According to the firm, the latest US investments are the first of a series of important steps to meet AstraZeneca's ambition to achieve $80 billion in total revenue by 2030.

In the US, AstraZeneca has around 17,800 employees working across 17 R&D, manufacturing and commercial sites spanning 12 states.

Pascal Soriot, Chief Executive Officer, 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."