AstraZeneca (NASDAQ:AZN) on Thursday announced a $4.5B investment in a proposed manufacturing site in Virginia, $500M more than it initially planned, as the U.K.-based company becomes the latest pharma giant to expand its U.S. footprint amid the Trump administration’s tariff threats.
The facility, expected to be operational within the next four to five years, is part of the Anglo-Swedish drugmaker’s plans to invest $50B in the U.S. by 2030 to improve its manufacturing and R&D operations.
The site, located in Albemarle County, will focus on producing drug substances for its obesity and metabolic portfolio, the company said, adding that it will create 600 highly skilled jobs, including 100 more jobs due to the additional investment.
“Today’s groundbreaking demonstrates the Trump Administration’s commitment to onshoring drug manufacturing and strengthening supply chains to improve Americans’ access to medication,” said Mehmet Oz, Administrator of the Centers for Medicare & Medicaid Services (CMS).
The investment, which Astra (NASDAQ:AZN) CEO Pascal Soriot identified as the company’s largest in history, comes after Pfizer (PFE) received a three-year reprieve on tariffs from the Trump administration last week in exchange for additional investments in the U.S.