(Reuters) -AstraZeneca said on Tuesday it would invest $360 million to develop a manufacturing facility in Ireland to produce active pharmaceutical ingredients (APIs), or the main components of medicines.
The Anglo-Swedish drugmaker, which completed its $39 billion purchase of rare disease drugs maker Alexion in July, has a large portfolio of treatments for cancer, heart disease, diabetes and a COVID-19 vaccine, with several drugs under trials.
“The future manufacturing of APIs for our medicines includes compounds with highly complex synthesis … This significant investment will ensure the AstraZeneca supply network is fit for the future,” said Pam Cheng, head of AstraZeneca’s operations and IT.
The planned investment in Dublin is expected to support late-stage development and early commercial supply, the company said, adding that the site can be developed further to add treatments such as antibody drug conjugates and oligonucleotides.
(Reporting by Pushkala Aripaka in Bengaluru; Editing by Arun Koyyur and Saumyadeb Chakrabarty)
