September 21 (Reuters) – AstraZeneca (AZN.L) on Tuesday announced it would invest $ 360 million to develop a manufacturing facility in Ireland to produce active pharmaceutical ingredients (APIs) or the main components of drugs.
The Anglo-Swedish drugmaker, which finalized its $ 39 billion purchase from rare disease drug maker Alexion in July, has a large portfolio of treatments for cancer, heart disease, diabetes and a COVID-19 vaccine, with several drugs being tested.
“The future manufacturing of APIs for our drugs includes very complex synthesized compounds… This significant investment will ensure that AstraZeneca’s supply network is ready for the future,” said Pam Cheng, Head of Operations and Business Development. computer science from AstraZeneca.
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 further developed to add treatments such as antibody-drug conjugates and oligonucleotides.
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Report by Pushkala Aripaka in Bangalore; Editing by Arun Koyyur and Saumyadeb Chakrabarty
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