UK-based pharmaceutical giant AstraZeneca plans to build its largest drug manufacturing facility in Virginia, creating hundreds of new jobs as part of a $50 billion investment in the United States.

The company said the Virginia facility "would be AstraZeneca’s largest single manufacturing investment in the world." The proposed site was not disclosed.

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AstraZeneca said it would invest $50 billion in U.S. production by 2030. At the core is a manufacturing plant to go somewhere in Virginia.

Governor Glenn Youngkin announced Monday that AstraZeneca selected Virginia for a multi-billion-dollar manufacturing center

The $50 billion target, which AstraZeneca plans to meet by 2030, includes new manufacturing projects in Virginia and elsewhere, as well as R&D investment.

AstraZeneca (LSE:AZN) recently announced plans to invest $50 billion in the U.S. by 2030, including the development of a major manufacturing facility in Virginia. Despite this significant announcement and other positive developments such as the EU approval of IMFINZI for bladder cancer,