Jan 8 (Reuters) - AstraZeneca on Thursday appointed company insider Rick Suarez as the head of its U.S. biopharmaceuticals unit to lead the drugmaker's $50 billion investment plan in the company's largest
market.
The drugmaker announced the investments last year in response to President Donald Trump's tariff policy. The plan, which will be implemented over five years, includes construction of a $4.5 billion manufacturing facility in Virginia, AstraZeneca’s largest single manufacturing investment globally.
Suarez, who joined AstraZeneca in 1999, has served as country president for Spain since 2020, and has over 20 years of U.S. healthcare experience, the company said.
AstraZeneca, under the overall leadership of CEO Pascal Soriot, has sought to balance the Trump administration's demands on the pharmaceutical sector with a deal to lower drug prices for millions of Americans and a full listing of its shares on the New York Stock Exchange.
The Anglo-Swedish company was also the first non-U.S. drugmaker to enter a deal with the White House on drug-pricing in November, and several other pharmaceutical firms have followed its example.
From the start of February, AstraZeneca plans to move to a full U.S. listing, rather than the current depositary receipts structure.
Suarez, during his tenure in Spain, has overseen the launch of a new global hub in Barcelona and led the company's digital health initiatives.
Suarez will take over his new responsibilities immediately and will be based at AstraZeneca's U.S. headquarters in Wilmington, Delaware.
(Reporting by Shashwat Awasthi in Bengaluru and Bhanvi Satija in London; Editing by Mrigank Dhaniwala and Barbara Lewis)
