AstraZeneca announced plans to invest $50 billion in the United States by 2030 to expand its manufacturing and research and development capabilities. This investment includes the construction of a new multi-billion-dollar manufacturing facility in Virginia, along with expansions of other sites in states such as California. The initiative is part of AstraZeneca's strategy to bolster its US operations amid increasing pressure from President Donald Trump's tariff policies on imported medicines. The company’s CEO, Pascal Soriot, indicated that the investment aims to support growth and address tariff-related challenges. AstraZeneca's commitment aligns with similar investments by other major pharmaceutical companies, which have collectively pledged over $200 billion in US manufacturing and R&D in recent years. The investment is expected to create tens of thousands of new skilled jobs across the country and reflects a broader industry trend toward reshoring production to mitigate tariff risks and strengthen domestic supply chains.
AstraZeneca has proposed price cuts to its drugs in the United States, its CEO said on Tuesday, days after unveiling a $50 billion investment to expand there, as President Donald Trump pressures pharmaceuticals companies to lower costs. https://t.co/dL8MzHJeX9
$AZN CFO says $50B manufacturing investment not about Trump tariffs: "we've started tech transfers for those products which we do import... would be completed within a within a year or so... This new facility...was part of the plan anyway...it has nothing to do with tariffs." https://t.co/lqLAL09176
$AZN is investing $50 billion in the US. "The US is our fastest growing market," AstraZeneca CEO Aradhana Sarin says, adding: "We're growing very fast." Full interview: https://t.co/0zYWgq3U2e