(MENAFN) British pharmaceutical company AstraZeneca is investing USD285.59 million to expand biotech drug production in Sweden, as the company bets on high-tech medicine for growth, 4-traders reported.
The new facility for biological medicines in Sodertalje will supply drugs for clinical trial programs from the end of 2018, and will deliver its finished products for commercial use once it is fully operational by 2019.
The company said the planned investment will create between 150 and 250 highly skilled new roles at AstraZeneca by 2019. The new plant will be focused on the filling and packaging of protein therapeutics.
The move reflects the changing nature of the drug company's portfolio, as it focuses on injectable biotech medicines, which make up around half of the new drug pipeline.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.