LONDON (ShareCast) - (Sharecast News) - AstraZeneca is to invest $2bn ramping up manufacturing facilities in Maryland, America, the blue chip drugs giant said on Monday.
The Anglo-Swedish firm intends to both expand its flagship biologics plant in Frederick, and to build a new facility in Gaithersburg, which will develop innovative molecules to be used in clinical trials. Both are expected to operational by 2029.

Pascal Soriot, chief executive, said it was a "landmark moment" for the state and for patients.

He continued: "This investment strengthens the resilience of the US medicines supply chain and accelerates access to transformative therapies for patients across America and around the world."

The announcement is part of a $50bn US investment push first announced by Cambridge-based AstraZeneca in July.

A number of companies are either onshoring US production, or expanding existing facilities, to avoid tariffs.

Donald Trump announced in September that levies of 100% would be imposed on branded drug imports, unless companies had already started building facilities in the US.

As well as boosting its manufacturing and research capabilities, AstraZeneca has announced plans to list directly on Wall Street and in October struck a deal to cut drug prices in America, further allowing it to avoid steep tariffs.

It has also paused a planned £200m investment in its Cambridge research site.

The US is AstraZeneca's biggest market by sales as well as being home to 19 research, manufacturing and commercial sites.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE