AZ to ramp up biologics production with new plant, jobs in MD
- In 2007, London-based AstraZeneca acquired MedImmune, which is based in Gaithersburg, MD, for $15.6 billion.
- MedImmune is the biologics division of AZ, and is currently focused on increasing production capacity while also ramping up R&D capabilities.
- AZ is spending more than $200 million to expand with a new location in Frederick, MD.
Biologics is a hot business and only getting hotter. AZ knows that and has subsequently invested in MedImmune aggressively.
There are more than 120 drugs in MedImmune's R&D pipeline, including 30 that are already in clinical development. The new location in Frederick will include roughly 40,000 square feet of manufacturing space, as well as lab and administrative space. The project is slated for completion in mid-2017.
- bizjournals.com AstraZeneca plots $200 million expansion in Frederick