The company is also raising its full-year guidance to $14.9 billion in adjusted EBITDA, an 8.8% increase from its last projection. The U.S. is AstraZeneca’s largest market, generating 44% of its total revenue, according to its Q3 earnings presentation.

UK-based biopharmaceutical company AstraZeneca has announced a $3.5bn investment to expand its research and manufacturing capabilities in the US. As a part of this expansion drive, $2bn will be invested in creating more than 1,

AstraZeneca’s earnings were boosted by its oncology, cardiovascular, respiratory and immunology (R&I), and rare disease pipelines, the company said, with oncology seeing 22% growth. Cardiovascular, renal and metabolism (CVRM) experienced 21% growth, R&I 24% and rare disease 14%.

AstraZeneca raised its full-year guidance after third-quarter results topped analysts’ expectations, boosted by its cancer and diabetes medicines, and laid out plans for a multibillion-dollar investment in the U.

AstraZeneca said it is doubling down on its investment in its U.S. business. Meanwhile, General Catalyst has agreed to purchase Summa Health for $485 million.

KEY TAKEAWAYS British drugmaker AstraZeneca increased its full-year sales outlook on booming demand for its cancer and rare-disease drugs, and said it plans to invest $3.5 billion in its U.S. business by the end of 2026.