(Sharecast News) - AstraZeneca has agreed to sell a US manufacturing site to National Resilience.
Resilience, a US biomanufacturing company, is buying the West Chester site in Ohio, a commercial scale, 580,000sq ft facility.
Resilience will continue to manufacture select AstraZeneca medicines at the site as part of a multi-year agreement, and will retain the site's management and employees. Around 500 people work at West Chester.
Andrew Wirths, AstraZeneca senior vice president, Americas supply region, said: "As part of our long-term strategy to ensure our global supply network remains fit for the future, we are continuously optimising our manufacturing footprint to meet the evolving needs of our pipeline and portfolio.
"The transfer of our West Chester site to Resilience will enable the continued supply of AstraZeneca medicines to patients."
Rahul Singhvi, chief executive of Resilience, said the site would enable it to "broaden our access to complex medicines, protect biopharmaceutical supply chains, and strengthen domestic preparedness".
The transaction is expected to close in early 2023. Financial terms were not disclosed.
Astrazeneca (AZN)
