Colorado Governor Polis Helps Agilent Break Ground on $725 Million Expansion of Manufacturing Operations in Frederick

Rhea-AI Summary

Agilent Technologies Inc. (NYSE: A) recently broke ground on a $725 million expansion project in Frederick, Colorado, aimed at doubling its manufacturing capacity for therapeutic nucleic acids. This investment is expected to create over 160 life science jobs and enhance U.S. production of active pharmaceutical ingredients vital for treating various diseases, including cancer. The project will contribute to Colorado's biotechnology ecosystem and is anticipated to be completed by the end of 2026. CEO Mike McMullen highlighted the company’s commitment to innovative therapeutics that improve life quality.

Positive

• Investment of $725 million to double manufacturing capacity.
• Creation of over 160 new jobs in the Frederick area.
• Strengthening of U.S. manufacturing for essential pharmaceutical ingredients.

Negative

• None.

FREDERICK, Colo.--(BUSINESS WIRE)-- Leaders from Agilent Technologies Inc. (NYSE: A) today joined Colorado Governor Jared Polis and local government officials to break ground on Agilent’s $725 million investment to double manufacturing capacity of therapeutic nucleic acids in Frederick, Colorado.

From left to right: Agilent Vice President Brian Carothers, Frederick Mayor Tracie Crites, Colorado Governor Jared Polis, Agilent President Sam Raha, and Agilent CFO Bob McMahon break ground on Agilent's new manufacturing facility. (Photo: Business Wire)

The investment will create more than 160 life science jobs in the Frederick area; contribute to the state’s rapidly growing biotechnology ecosystem; and increase U.S. manufacturing for active pharmaceutical ingredients (API) that are essential to treating a growing number of diseases, including cancer, cardiovascular disease, and rare and infectious diseases.

“Agilent has had a growing presence in Colorado for more than 20 years. We are very excited about this next phase of investment in this rapidly growing area of biotechnology,” says CEO Mike McMullen. “We’re proud to be helping to drive this growth by creating innovative therapeutics that improve the quality of life.”

Agilent’s manufacturing facilities in Colorado produce siRNA, antisense molecules, and CRISPR guide RNA molecules. The company’s therapeutic nucleic acid contract development and manufacturing organization services offer superior customer service, the highest quality oligo API material, and cGMP (Current Good Manufacturing Practices) to produce high-volume oligos efficiently and cost effectively from early-stage clinical development to commercialization.

“Colorado is proud to be a leader in the biosciences and biotech landscape, and thanks to our world-class institutions of higher education, a highly talented workforce, and innovative spirit, we continue to see this industry grow and thrive,” said Governor Polis. “This exciting expansion will create 160 new good-paying jobs in the Frederick community, and I look forward to seeing the progress that will come from this facility in the future.”

During the groundbreaking ceremony, President of Agilent’s Diagnostics and Genomics Group Sam Raha announced a $25,000 donation to P-TECH, a program at Frederick High School that enables students from underrepresented communities to graduate with associate degrees in the life sciences.

The expansion is expected to be completed by the end of 2026. Read more about Agilent’s oligo API development and manufacturing services and find additional background about oligos in Agilent’s media room.

About Agilent Technologies

Agilent Technologies Inc. (NYSE: A) is a global leader in the life sciences, diagnostics, and applied chemical markets, delivering insight and innovation that advance the quality of life. Agilent’s full range of solutions includes instruments, software, services, and expertise that provide trusted answers to our customers’ most challenging questions. The company generated revenue of $6.85 billion in fiscal 2022 and employs 18,000 people worldwide. Information about Agilent is available at www.agilent.com. To receive the latest Agilent news, subscribe to the Agilent Newsroom. Follow Agilent on LinkedIn and Facebook.

Forward Looking Statements

This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The forward-looking statements contained herein include, but are not limited to, statements regarding the capabilities the manufacturing capacity expansion brings and the assets’ future uses. These forward-looking statements involve risks and uncertainties that could cause Agilent’s results to differ materially from management’s current expectations. Such risks and uncertainties include, but are not limited to, unforeseen changes in the strength of Agilent’s customers’ businesses; unforeseen changes in the demand for current and new products, technologies, and services; unforeseen changes in the currency markets; and customer purchasing decisions and timing. In addition, other risks that Agilent faces in running its operations include the ability to execute successfully through business cycles; the ability to meet and achieve the benefits of its cost-reduction goals and otherwise successfully adapt its cost structures to continuing changes in business conditions; ongoing competitive, pricing and gross-margin pressures; the risk that its cost-cutting initiatives will impair its ability to develop products and remain competitive and to operate effectively; the impact of geopolitical uncertainties and global economic conditions on its operations, its markets and its ability to conduct business; the ability to improve asset performance to adapt to changes in demand; the ability of its supply chain to adapt to changes in demand; the ability to successfully introduce new products at the right time, price and mix; the ability of Agilent to successfully integrate recent acquisitions; the ability of Agilent to successfully comply with certain complex regulations; the adverse impacts of and risks posed by the COVID-19 pandemic; and other risks detailed in Agilent’s filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the fiscal quarter ended October 31, 2022. Forward-looking statements are based on the beliefs and assumptions of Agilent’s management and on currently available information. Agilent undertakes no responsibility to publicly update or revise any forward-looking statement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230216005855/en/

Sarah Litton

+1 669 255 7696

sarah.litton@agilent.com

Source: Agilent Technologies Inc.

FAQ

What investment is Agilent making in Frederick, Colorado?

Agilent is investing $725 million to double its manufacturing capacity for therapeutic nucleic acids.

How many jobs will Agilent's new facility create?

The new facility is expected to create over 160 life science jobs in Frederick, Colorado.

When is Agilent's expansion project expected to be completed?

The expansion project is anticipated to be completed by the end of 2026.

What is the focus of Agilent's manufacturing expansion?

The expansion focuses on increasing U.S. production of active pharmaceutical ingredients necessary for treating various diseases.