AstraZeneca has announced plans to invest $50 billion in the U.S. by 2030 amid concerns over tariffs. The British pharmaceutical company said its investment would fund a new drug manufacturing facility in Virginia and expand its research and development and cell therapy manufacturing in Maryland, Massachusetts, California, Indiana and Texas.
The AstraZeneca Chief Executive Pascal Soriot said the $50 billion investment would support the company’s ambition to reach $80 billion in revenue by 2030 at which point 50% of sales are expected to come from the U.S. The company brought in $54.1 billion in revenues in 2024.
The manufacturing facility at Virginia would be AstraZeneca’s largest single manufacturing investment in the world, the company said. It would produce ingredients — known as drug substances — for medicines including those focused on weight loss and blood pressure.
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President Donald Trump had threatened to impose tariffs of up to 200% on pharmaceuticals made outside the U.S. Drug companies could be given between 12 and 18 months to bring their manufacturing to the U.S., the president said last month. U.S. Commerce Secretary Howard Lutnick said Trump’s tariffs were focused on ending reliance on the foreign supply of key pharmaceutical products.
“We are 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 U.S. and will ensure medicine sold in our country is produced right here,” Lutnick added.
AstraZeneca already has 19 research and development, manufacturing and commercial sites in the U.S., where it employs more than 18,000 people. The country is already AstraZeneca’s largest market and the company aims to lift its share from 42% of total revenues to 50% by 2030.The company did not reveal further details about amounts and timings of each component of the investment.
AstraZeneca is the latest among various pharmaceutical companies planning to invest in the U.S. to avoid the cost of Trump’s tariffs. The Swiss drugmaker Roche announced in April that it would put $50 billion in U.S. manufacturing over the next five years in a move it claimed would create more than 12,000 jobs. Its rival Novartis has said it will spend $23 billion in the U.S., and the American pharmaceutical company Johnson & Johnson said in March that it would invest $55 billion in manufacturing and R&D.
The Trump administration said it has launched an investigation into the pharmaceutical industry, arguing that foreign imports threaten national security, as well as “most favored nation” pricing. He said in May that the U.S. would “no longer tolerate profiteering and price gouging from big pharma.”