AstraZeneca Unveils $64b US Investment Amid Pharma Tariff Threat

AstraZeneca plans to spend US$50 billion (S$64 billion) to expand manufacturing and research capabilities in the US by 2030, it said on July 21, the latest big investment by a pharmaceutical company reacting to US President Donald Trump's tariff policy.

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The investment will fund a new drug manufacturing facility in Virginia and expand research and development (R&D) and cell therapy manufacturing in Maryland, Massachusetts, California, Indiana and Texas, it said in a statement.

It will also upgrade the Anglo-Swedish drugmaker's US clinical trial supply network and support investment in novel medicines.

AstraZeneca said the expansion supports its ambition to reach US$80 billion in annual revenue by 2030, with half coming from the US. The US accounted for more than 40 per cent of AstraZeneca's annual revenue in 2024, and the company had been prioritising the market - the world's largest, worth US$635 billion - before Mr Trump's return to office.

The move to scale up its US footprint is the latest by a drugmaker as Mr Trump threatens to impose import tariffs on the industry and seeks to boost domestic manufacturing. The sector has historically been spared during trade disputes.