21st Sep 2021 08:36
(Alliance News) - AstraZeneca PLC on Tuesday revealed plans to invest USD360 million in an advanced manufacturing facility in Ireland.
The FTSE 100-listed pharmaceutical company said the investment will be used to establish a "next-generation" facility at the Alexion Campus in College Park, Dublin.
The plant will manufacture active pharmaceutical ingredients, specifically small molecules, AstraZeneca said.
The investment will reduce lead times and costs, the company said, while preparing its global supply network for future growth.
"The new plant will allow for late-stage development and early commercial supply, adopting state of the art process technology and digital innovation that is designed to meet the needs of the company's new medicines pipeline with speed and agility," AstraZeneca commented.
The drug-maker said its "future proof" plant will produce a wide range of medicines, including new modalities such as antibody drug conjugates and oligonucleotides.
The project - which is expected to create 100 skilled jobs - was developed with the support of Ireland's investment agency, IDA Ireland, the company noted.
Chief Executive Pascal Soriot said: "This is a tremendously proud moment for us all at AstraZeneca and I am delighted that we are bringing this very significant investment to Dublin which, with the support of the IDA, will create highly skilled jobs, nurture the country's dynamic life sciences sector and allow for the development of high value-added medicines."
Shares in AstraZeneca were trading down 0.2% at 8,547.00 pence each in London on Tuesday morning.
By Scarlett Butler; [email protected]
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