(Reuters) -AstraZeneca said on Friday it will invest $2 billion to expand its manufacturing footprint in Maryland as part of its previously announced $50 billion plan to expand manufacturing and research capabilities in the U.S. by 2030.
Global pharmaceutical companies have been ramping up investments in the United States to expand production capacity, following President Donald Trump's call for the industry to make more medicines domestically instead of importing active ingredients or finished products.
The Anglo-Swedish drugmaker's $2 billion investment will help expand its biologics manufacturing facility in Frederick and construct a new state-of-the-art facility in Gaithersburg for the development and clinical supply of drugs to be used in trials.
This investment marks the fourth in AstraZeneca's larger expansion plan, and will support 2,600 jobs across the two sites in Maryland, including the creation of 300 highly skilled jobs.
CEO Pascal Soriot has looked to balance Trump's demands on the sector with a full listing of its shares on the New York Stock Exchange, as well as a deal to lower drug prices for millions of Americans.
AstraZeneca's Frederick facility currently produces biologics, a class of medications that come from living organisms and include a wide range of products such as vaccines and other therapies. These are used across AstraZeneca's portfolio of cancer, autoimmune, respiratory and rare disease treatments.
The planned expansion will nearly double commercial manufacturing capacity, allowing increased supply of existing medicines and, for the first time, production across the company's rare disease portfolio, AstraZeneca said, adding that it will create 200 highly skilled jobs and 900 construction roles.
Its new clinical manufacturing facility in Gaithersburg, which will be fully operational by 2029, will create an additional 100 jobs, retain 400 roles and support a further 1,000 construction-related jobs.
The drugmaker's previous announcements included a new cell therapy manufacturing facility in Rockville, Maryland, a new drug substance manufacturing facility in Virginia and the expansion of its existing manufacturing facility in Coppell, Texas.
(Reporting by Sriparna Roy in Bengaluru; Editing by Alan Barona)
LATEST POSTS
- 1
PA accuses Israel of 'human trafficking' after planeload of Gazans arrives in South Africa - 2A 3-limbed Kemp's ridley sea turtle is now being tracked at sea by satellite
- 35 Instructive Toy Brands for Youngsters
- 4Figure out How to Use the Experience of a Fender bender Legal counselor for Your Potential benefit
- 5Top 15 Style Creators Changing the Business
- I went to Japan during peak cherry blossom season and found an easy way to escape the crowds at popular tourist attractions
- The most effective method to Really Adjust Hypothesis and Practice in Your Brain science Studies
- Setbacks in Texas and elsewhere put Republicans' redistricting hopes in doubt as key deadlines loom
- Believe Should Unwind? Look at These Scaled down Games
- Texas cities have some of the highest preterm birth rates in the US, highlighting maternal health crisis nationwide
- Teen drug use remains low, but survey finds small rise in heroin and cocaine use
- Forget 'Outer Banks.' These Gen Z-ers just want to watch 'M*A*S*H*' and 'Gilmore Girls.'
- Last supermoon of the year, the cold moon, seen across the U.S.: See the photos
- Picking Your Next SUV: 4 Brands Offering Execution, Solace, and Wellbeing
