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AstraZeneca to invest $285 mln in Swedish biotech factory

Reuters - UK Focus

LONDON, May 18 (Reuters) - AstraZeneca (NYSE: AZN - news) is investing $285 million to expand biotech drug manufacturing in Sweden as the company bets on the future of high-tech medicine for future growth.

The new facility for biological medicines in Sodertalje will supply medicines for clinical trial programmes from the end of 2018 and will deliver finished products for commercial use once fully operational by 2019.

The planned investment will, subject to relevant approvals by the local authorities, create between 150 and 250 highly skilled new roles at AstraZeneca by 2019, the Anglo-Swedish company said in a statement on Monday.

The new plant will be focused on filling and packaging of protein therapeutics.

(Reporting by Ben Hirschler, editing by Louise Heavens)