Why AstraZeneca Stock Bumped Higher Today
(NASDAQ: AZN) stock finished the trading week in style, rising by nearly 3% in value on Friday. That was due to news from the company that it's expanding its manufacturing footprint in the U.S. That price rise was high enough to convincingly beat the S 500 index, which crept up by almost 1%.
AstraZeneca announced it is investing $2 billion in expanding its drug-making capabilities in Maryland, specifically at an existing plant in Frederick and a new one in Gaithersburg. The former is a manufacturing site for biologics, while the latter is planned as a state-of-the-art facility for innovative molecules that will be used in clinical trials.
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Source Fool.com
