Words by Jade Williams
AstraZeneca has announced $3.5bn in capital investment aimed at expanding its US research and manufacturing capabilities by the end of 2026.
Its commitment includes $2bn to create over 1,000 high-skilled jobs, contributing to the growth of the US pharmaceutical and biotechnology sector, as well as the broader economy.
The investment includes a state-of-the-art R&D centre in Massachusetts, a next-generation biologics manufacturing facility in Maryland, cell therapy manufacturing capacities on both coasts of the country and specialty manufacturing in Texas.
Pascal Soriot, Chief Executive Officer, AstraZeneca, noted in a press release that the company’s “multibillion-dollar investment reflects the attractiveness of the business environment together with the quality of talent and innovation capabilities here in the United States”. Continuing, he emphasised that “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 initiatives are integral to AstraZeneca’s growth ambitions, which has a goal of reaching $80bn in total revenue by 2030. The US is already AstraZeneca’s largest market, accounting for 44% of its revenue – reinforcing why the business is focused on accelerating development within the country.
