AstraZeneca announces $50 billion US investment in manufacturing and R&D

AstraZeneca PLC (NASDAQ:AZN) announced Tuesday plans to invest $50 billion in the United States by 2030, focusing on medicines manufacturing and research and development. The company stated that the investment will include a new multi-billion dollar drug substance manufacturing facility in the Commonwealth of Virginia, which it described as its largest single facility investment to date.

According to the press release statement, the new Virginia facility will focus on producing substances for AstraZeneca’s weight management and metabolic products, including oral GLP-1, baxdrostat, oral PCSK9, and combination small molecule medicines. The plant is planned to utilize artificial intelligence, automation, and data analytics to support production processes.

The $50 billion investment also covers expansion of AstraZeneca’s R&D center in Gaithersburg, Maryland; a new research facility in Kendall Square, Cambridge, Massachusetts; next-generation cell therapy manufacturing sites in Rockville, Maryland and Tarzana, California; continuous manufacturing expansion in Mount Vernon, Indiana; specialty manufacturing in Coppell, Texas; and new sites to support clinical trials.

AstraZeneca indicated that the investment is expected to create tens of thousands of direct and indirect jobs in the US. The company aims to reach $80 billion in total revenue by 2030, with a goal of generating 50% of that revenue in the US.

US Secretary of Commerce Howard Lutnick said, “We are proud that AstraZeneca has made the decision to bring substantial pharmaceutical production to our shores. This historic investment is bringing tens of thousands of jobs to the US and will ensure medicine sold in our country is produced right here.” Virginia Governor Glenn Youngkin added that the project will create hundreds of highly skilled jobs in the state.

AstraZeneca currently operates 19 research, manufacturing, and commercial sites in the US, employing more than 18,000 people and supporting 92,000 jobs, according to the company’s statement.

This information is based on a press release statement filed with the US Securities and Exchange Commission.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.