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President Donald Trump announced a multi-billion-dollar investment from a major medical company on Tuesday, marking yet another historic win for his America First administration.
“AstraZeneca is going to spend $50 billion in the United States in order to build various places all over the country,” Trump said during a bilateral press conference with the President of the Republic of the Philippines, Ferdinand “Bongbong” Marcos.
He said this investment came about because “of the election and because of the fact that the tariffs are in place.”
The whopping investment from the Big Pharma company comes amid the Trump administration’s staggering, multi-trillion-dollar investment haul in the first six months of the president’s second term, ranging from Apple and Project Stargate to IBM and Johnson & Johnson.
According to the company, their goal is to reach $80 billion in revenue by 2030, with 50 percent of that income coming from the United States.
“The cornerstone of this landmark investment is a new multi-billion dollar US manufacturing facility that will produce drug substances for the Company’s innovative weight management and metabolic portfolio, including oral GLP-1, baxdrostat, oral PCSK9 and combination small molecule products,” AstraZeneca said in a press release.
Over the next five years, AstraZeneca plans to expand research and development facilities in Maryland and Massachusetts. Manufacturing facilities for cell therapy are also expected to be built in Maryland and California. Expansion is additionally planned in Texas.
“For decades Americans have been reliant on foreign supply of key pharmaceutical products. President Trump and our nation’s new tariff policies are focused on ending this structural weakness,” said U.S. Secretary of Commerce Howard Lutnick.
This announcement also comes months after President Trump signed an executive order “to facilitate the restoration of a robust domestic manufacturing base for prescription drugs, including key ingredients and materials necessary to manufacture prescription drugs.”
