LONDON (ShareCast) - (Sharecast News) - AstraZeneca said on Tuesday that it is planning on establishing a next-generation active pharmaceutical ingredient (API) manufacturing facility for small molecules near Dublin, Ireland to secure its global supply network.
The FTSE 100 pharmaceuticals giant said the new plant would allow for late-stage development and early commercial supply, adopting "state-of-the-art" process technology and digital innovation designed to meet the needs of the company's new medicines pipeline.

It said the $360m planned investment at the Alexion Campus in College Park, Dublin was expected to create about 100 highly-skilled direct jobs, including scientists and engineers, and further indirect jobs.

The project, which AstraZeneca said would provide a boost to the local economy and to the country's life-sciences sector, was developed with the support and collaboration of the Republic of Ireland's investment agency, IDA Ireland.

"This is a tremendously proud moment for us all at AstraZeneca and I am delighted that we are bringing this very significant investment to Dublin which, with the support of the IDA, will create highly skilled jobs, nurture the country's dynamic life sciences sector and allow for the development of high value-added medicines," said chief executive officer Pascal Soriot.

The investment programme was expected to "significantly reduce" commercialisation lead times, costs and introduce more sustainable manufacturing processes, contributing to the company's 'Ambition Zero Carbon' programme.

It said the "future proof" design of the plant would permit the addition of capability to manufacture a range of medicines, including new modalities such as antibody drug conjugates and oligonucleotides.

"The future manufacturing of APIs for our medicines includes compounds with highly complex synthesis, requiring next generation technologies and capabilities that can respond quickly and nimbly to rapidly-changing clinical and commercial needs," said Pam Cheng, executive vice-president of global operations and IT.

"This significant investment will ensure the AstraZeneca supply network is fit for the future."

At 0857 BST, shares in AstraZeneca were down 0.04% at 8,556p.

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