AstraZeneca to invest $50 bn in the US amid Trump tariffs
AstraZeneca, a British pharmaceutical company, plans to invest $50 billion in the United States. This decision comes amid upcoming tariff increases from Washington. A significant portion of the investment will be used to construct a large manufact...
By AFP |
Reuters
British pharmaceutical giant AstraZeneca on Tuesday said it would invest $50 billion in the United States amid a looming deadline of ramped-up tariffs from Washington.
A large chunk of the funds will go toward building a multi-billion dollar manufacturing centre in Virginia, the company said in a statement, adding that it expects 50 percent of its revenue to come from the United States by 2030.
"Today's announcement underpins our belief in America's innovation in biopharmaceuticals," the statement quoted CEO Pascal Soriot as saying.
A large chunk of the funds will go toward building a multi-billion dollar manufacturing centre in Virginia, the company said in a statement, adding that it expects 50 percent of its revenue to come from the United States by 2030.
"Today's announcement underpins our belief in America's innovation in biopharmaceuticals," the statement quoted CEO Pascal Soriot as saying.
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