AstraZeneca PLC (LSE:AZN) has announced plans to invest $50 billion in the United States by 2030, marking the pharmaceutical giant’s largest-ever investment in a single market.
The UK-headquartered biopharmaceutical company said the investment will expand its domestic manufacturing and research footprint as it works toward a long-term revenue target of $80 billion annually, with half of that total expected to come from the US market.
This comes as the Trump administration is set to impose tariffs of up to 200% on pharmaceuticals manufactured abroad.
AstraZeneca’s investment will support the construction of a new multi-billion dollar drug substance manufacturing facility in Virginia, as well as the expansion of existing sites in Massachusetts, Maryland, California, Indiana, and Texas.
The company expects the initiative to create tens of thousands of direct and indirect jobs over the next five years.
The planned Virginia site will focus on producing active ingredients for a range of chronic disease treatments, including oral GLP-1 therapies, hypertension drug baxdrostat, and other metabolic and cardiovascular compounds.
According to the company, it will be AstraZeneca’s largest-ever single manufacturing investment and will incorporate technologies such as automation, AI, and data analytics.
“Today’s announcement underpins our belief in America’s innovation in biopharmaceuticals and our commitment to the millions of patients who need our medicines in America and globally,” AstraZeneca CEO Pascal Soriot said in a statement. “It will also support our ambition to reach $80 billion in revenue by 2030.”
The announcement was welcomed by US Secretary of Commerce Howard Lutnick.
“For decades Americans have been reliant on foreign supply of key pharmaceutical products. President Trump and our nation’s new tariff policies are focused on ending this structural weakness,” Lutnick said.
“We are proud that AstraZeneca has made the decision to bring substantial pharmaceutical production to our shores.”
AstraZeneca’s US-listed shares were higher on the announcement, adding 2.2% at about $70.