AstraZeneca splashes $285M on a new biotech plant

Thanks to the promising pipeline of its MedImmune subsidiary, AstraZeneca's ($AZN) best bets for the future are mostly biological treatments. And to prepare for its growing dependence on biotech drugs, the U.K. drugmaker is spending $285 million on a new biologics manufacturing operation. The facility, part of AstraZeneca's Swedish hub, will require between 150 and 250 new jobs, coming on line in 2018 to support the company's many large-molecule development projects. More from FiercePharma