Pharma giant AstraZeneca announced $3.5 billion in US capital investment that will expand its biopharmaceutical researching and manufacturing footprint in the country by the end of 2026. According to the company, about $2 billion will go toward creating more than 1,000 highly skilled jobs.
Among other plans, the firm will expand its cell-therapy manufacturing capacity on both the East and West coasts of the US. And although the company has not revealed specifics of that expansion, a spokesperson told BioProcess Insider that the funds will support efforts in California, Maryland, and Texas.
The funds will additionally go to the construction of an R&D research center in Kendall Square, Cambridge, Massachusetts, while Maryland will be home to a next-generation biologics manufacturing facility.
“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,” said Pascal Soriot, CEO of AstraZeneca. “By expanding our R&D and manufacturing footprint, we aim to enhance the development of cutting-edge therapies and support the US leadership in healthcare innovation.”
News of the large US expansion follows the announcement of the company’s Q3 results, during which it reported total revenue and core earnings per share (EPS) had risen 21% and 27% respectively. Soriot credited the strong quarter on the demand for AstraZeneca’s oncology, rare disease, and biopharmaceutical products.
But recent news from the company hasn’t been entirely rosy. Earlier this month, the company announced that China president Leon Wang was currently under investigation by Chinese authorities in a case the company claims to know little about. And in August, the firm had to beat back rumors that it planned to move its operations out of the UK in light of recent governmental changes in the country.
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