AstraZeneca says new facility in Dublin on target for 2026 completion
The firm said the investment will fund a new "state-of-the-art" manufacturing facility in Virginia - set to be its largest single manufacturing investment in the world. It will also expand research and development (R&D) and cell therapy manufacturing in Maryland, Massachusetts, California, Indiana and Texas.
In 2021 AstraZeneca said it was investing €300m to establish a next-generation active pharmaceutical ingredient (API) manufacturing facility for small molecules in Dublin. Those plans are unaffected by the US announcement, a spokesperson told the Irish Examiner.
"In line with our plans, the construction of our synthetic drug substance commercialisation facility in Ireland is scheduled for completion in 2026," said the spokesperson.
The US announcement marks the latest by a global pharmaceutical giant to expand its footprint in the US as Mr Trump has threatened to impose tariffs of up to 20% on drug imports in an effort to increase manufacturing in America and drive down costs for Americans.
AstraZeneca said the mammoth investment will create tens of thousands of jobs across the US, "powering growth and delivering next-generation medicines for patients in America and worldwide".
The Anglo-Swedish group, which is listed on the FTSE 100, said the investment will also help it towards the group's target of reaching $80bn (€60bn) in revenues by 2030, with half of this is expected to come from the US, it added.
Despite being headquartered in the UK, America is AstraZeneca's largest market, where it employs more than 18,000 staff and makes 42% of total group sales. It already has 19 R&D, manufacturing and commercial sites across the country.
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Irish Times
4 minutes ago
- Irish Times
EU and US agree tariff deal after months of fractious talks
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RTÉ News
3 hours ago
- RTÉ News
Trump, EU's von der Leyen to meet to clinch trade deal
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Irish Examiner
5 hours ago
- Irish Examiner
John Whelan: Tariff-free services exports are key to growth for now
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