AstraZeneca to invest $360 million in Irish drug manufacturing site By Reuters
© Reuters. The AstraZeneca logo is pictured outside the AstraZeneca office building in Brussels as part of the coronavirus disease (COVID-19) vaccination campaign, Belgium, January 28, 2021. REUTERS/Johanna Geron
(Reuters) -AstraZeneca said on Tuesday it would invest $360 million to develop a manufacturing facility in Ireland to produce active pharmaceutical ingredients (APIs), or the main components of medicines.
The Anglo-Swedish drugmaker, which completed its $39 billion purchase of rare disease drugs maker Alexion (NASDAQ:) in July, has a large portfolio of treatments for cancer, heart disease, diabetes and a COVID-19 vaccine, with several drugs under trials.
“The future manufacturing of APIs for our medicines includes compounds with highly complex synthesis … This significant investment will ensure the AstraZeneca (NASDAQ:) supply network is fit for the future,” said Pam Cheng, head of AstraZeneca’s operations and IT.
The planned investment in Dublin is expected to support late-stage development and early commercial supply, the company said, adding that the site can be developed further to add treatments such as antibody drug conjugates and oligonucleotides.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.