AstraZeneca invests in Södertälje

Anglo-Swedish pharmaceutical company AstraZeneca is investing SKr 2.3 billion in a new plant in Södertälje to expand its biotech drug manufacturing. The planned investment will create between 150 and 250 new highly skilled jobs in Södertälje. Subject to future growth of the life science sector in Sweden, the investment could total SKr 8.2 billion, and finally lead to between 800 and 1,000 highly qualified jobs at the facility, says Pascal Soriot, chief executive of AstraZeneca.

According to Soriot, the company has chosen to invest in Sweden for three reasons; the highly skilled staff in Södertälje, the country’s good research base, and the favourable business climate and competitive tax levels.