HQ Team
November 12, 2024: Britain’s AstraZeneca will invest $3.5 billion in the US, its largest market, to expand its research and manufacturing footprint by the end of 2026, according to a company statement.
The Cambridge, England-based AstraZeneca will set up a research and development centre in Kendall Square, Cambridge, Massachusetts and a manufacturing facility for biologics in Maryland.
It will also establish cell therapy manufacturing capacity on the West and East Coasts and speciality manufacturing in Texas.
“Our multibillion-dollar investment reflects the attractiveness of the business environment and the quality of talent and innovation capabilities here in the United States,” said Pascal Soriot, Chief Executive Officer of AstraZeneca.
New therapies
“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.”
These US investments are the first important steps to help deliver AstraZeneca’s ambition to achieve $80 billion in Total Revenue by 2030, as set out in May this year, according to the statement.
“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.”
AstraZeneca has approximately 17,800 employees working across 17 research and development, manufacturing and commercial sites spanning 12 states in the US.
Global footprint
Its medicines are sold in more than 125 countries.
The company is a global biopharmaceutical firm that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology.
In October this year, AstraZeneca signed a $1.92 billion licensing agreement with CSPC Pharmaceutical Group to develop, manufacture and commercialize a compound to treat a metabolic disorder.
Earlier in June, it announced the completion of the acquisition of Fusion Pharmaceuticals Inc., a clinical-stage biopharmaceutical company, for $2.4 billion. Fusion makes radioconjugates which replace traditional regimens like chemotherapy and radiotherapy with more targeted treatments.
