AstraZeneca to invest $50 billion in United States facilities

July 22 (UPI) — The biopharmaceutical company AstraZeneca announced it will $50 billion into the United States, with plans to open several manufacturing facilities in several states.

AstraZeneca said in a press release Monday that it will invest by both manufacturing some of its medicines and conducting research and development stateside, and will reach that $50 billion mark by 2030.

This move is intended to create thousands of new American jobs, with the main effort to expand being a multi-billion-dollar manufacturing facility to be built in Virginia. A number of its weight management drugs are to be produced there, and it will create its products via a combination of data analysis, AI and automation.

Virginia Gov. Glenn Youngkin thanked AstraZeneca in the release, “for choosing Virginia as the cornerstone for this transformational investment in the United States.”

“This project will set the standard for the latest technological advancements in pharmaceutical manufacturing, creating hundreds of highly skilled jobs and helping further strengthen the nation’s domestic supply chain,” said Youngkin. “Advanced manufacturing is at the heart of Virginia’s dynamic economy, so I am thrilled that AstraZeneca, one of the world’s leading pharmaceutical companies, plans to make their largest global manufacturing investment here in the Commonwealth.”

Other highlights of the $50 billion investment include research and development facilities constructed in Maryland, Massachusetts, Texas, Indiana and California.

According to the release, the financial goal of AstraZeneca is to reach a total revenue of $80 billion by 2030, half of which is expected to be generated in the United States.

U.S. Secretary of Commerce said in the release that the Trump administration is “proud that AstraZeneca has made the decision to bring substantial pharmaceutical production to our shores.”

“This historic investment is bringing tens of thousands of jobs to the [United States] and will ensure medicine sold in our country is produced right here,” he added.