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.
