AstraZeneca invests $135 million in its Swedish biologics facility
This is the company's greatest investment in the Sweden Biomanufacturing Center in Södertälje
AstraZeneca has announced a new investment of about US $135 million, which is around 1.375 billion Swedish krona, into its Biomanufacturing Center located in Södertälje, according to a press release dated Aug. 26, 2024.
The funding will increase the usable space of the Södertälje campus by 50%, adding 2700 square meters to an existing structure. AstraZeneca stated that once the expanded facility is completed, they will start manufacturing products for patients in the new section, potentially as early as the fourth quarter of 2027.
AstraZeneca reports that this extra investment is the biggest single portion of funding for the facility since its opening in 2021.
AstraZeneca's current research portfolio features biological drugs making up over 50% of its projects. The Sweden Biomanufacturing Center was created to align with the fast-growing market for biological medicines and to address the rising demands for internal production capacity, according to the press release. This investment will help install new equipment for filling drugs into prefilled syringes.
According to Alfredsson, the CEO of AstraZeneca AB and senior vice president for global biologics operations, the company expressed satisfaction with its investment in Södertälje. He noted that this move reflects AstraZeneca's dedication to innovation and the production of biological medicines in Sweden. He also mentioned that the upcoming expansion would enhance the company’s capacity to provide high-quality, life-changing medicines to patients around the globe.
The announcement arrives during a hectic few months for the company based in Cambridge, UK, as it engages with the international community. AstraZeneca announced in May 2024 that it intends to build a new facility for antibody drug conjugates in Singapore, with an investment of $1.5 billion USD. Construction is set to start by the end of 2024, aiming for full operation by 2029. In July 2024, the company finalized its $1.05 billion USD acquisition of Amolyt Pharma, a clinical-stage biotechnology firm focused on treatments for rare endocrine diseases. This move bolstered its late-stage pipeline for rare diseases, complementing its 2021 purchase of Alexion.
AstraZeneca announced that the new investment in the Sweden Biomanufacturing Center is expected to benefit millions of patients globally and supports the company’s dedication to job creation and economic growth in the Södertälje area. However, while the press release mentioned that new jobs would arise from this expansion funded by the investment, it did not provide any estimates regarding the timeline or the number of job opportunities that would be available.
