AstraZeneca To Invest $3.5B To Grow U.S. Footprint
Cambridge, England-based biopharmaceutical giant AstraZeneca is pouring billions of dollars into properties in the United States.
The company on Tuesday announced $2B in new investment for its U.S. research and manufacturing sites. With the infusion, the company plans to spend a total of $3.5B by the end of 2026.
The money will be funneled into four areas, the company said: a research and development center in the Boston area’s Kendall Square, a next-generation biologics manufacturing facility in Maryland, specialty manufacturing in Texas and cell therapy manufacturing capacity on the east and west coasts.
Further details about the exact facilities that will receive the investment weren't disclosed.
The investment is poised to add more than 1,000 “highly-skilled” jobs to the market, the release said.
“Our multibillion dollar investment reflects the attractiveness of the business environment together with the quality of talent and innovation capabilities here in the United States,” AstraZeneca CEO Pascal Soriot said.
“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,” he added.
In February, AstraZeneca announced it would invest $300M to outfit a Rockville, Maryland facility into a manufacturing site after it took over an 85K SF lease from another tenant at the Alexandria Real Estate Equities property. At the end of last year, it leased a 198K SF industrial building in Gaithersburg, Maryland, that Matan Cos. delivered on spec earlier that year.
AstraZeneca also pre-released one of two 16-story life sciences towers BXP, formerly Boston Properties, is developing in Kendall Square and is set to bring 1,500 employees to the facility upon its completion in 2026.
The company’s third-quarter revenue of $13.57B was up 19% from last year, and its year-to-date revenue of $39.2B was up 21%. AstraZeneca has about 17,800 U.S. employees across 17 sites in 12 states. Its North American headquarters is located in Wilmington, Delaware.
