AstraZeneca earmarks $200M to support its burgeoning biologics pipeline

Thanks in part to its all-hands approach to immuno-oncology, AstraZeneca's ($AZN) pipeline is now nearly 50% biologics, leading the company to lay out $200 million to build the capacity it will need to follow through on those in-development projects. The U.K. giant is planning to amp up its biologics production capacity in Frederick, MD, near the headquarters of its MedImmune subsidiary. With the investment, AstraZeneca will add about 40,000 square feet of manufacturing space to the existing facility, adding 300 jobs in a project that should wrap up by mid-2017, the company said. More