AstraZeneca Plc expands US R&D and manufacturing footprint with $3.5b investment

AstraZeneca
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AstraZeneca Plc (LON:AZN) has announced $3.5 billion of capital investment in the United States focused on expanding the Company’s research and manufacturing footprint by the end of 2026. This includes $2 billion of new investment creating more than a thousand new, high-skilled jobs contributing to the growth of the US economy.

AstraZeneca’s expanding footprint in the US includes, 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

·    Specialty manufacturing in Texas

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.”

Delivering growth: Ambition 2030

These US investments are the first of a series of important steps to help deliver AstraZeneca’s ambition to achieve $80 billion in Total Revenue by 2030 as set out in May this year. A key element of our strategy is accelerating the Company’s development in the United States. The US is AstraZeneca’s largest market, generating 44% of its Total Revenue.1

References

1.     As at Q3 2024 noted in AstraZeneca Q3 Financial Results. Available at: https://www.astrazeneca.com/media-centre/press-releases/2024/9m-and-q3-2024-results.html. Accessed November 2024.

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