AstraZeneca has become the latest big pharma company to devote new cash to its US manufacturing muscle this year as it unveils a $3.5 billion infusion into US sites.

AstraZeneca raised its full-year guidance after third-quarter results topped analysts’ expectations, boosted by its cancer and diabetes medicines, and laid out plans for a multibillion-dollar investment in the U.

Drugmaker AstraZeneca lifted its annual sales and profit forecast for the second time this year on Tuesday, helped by strong demand for its cancer and rare diseases medicines, after third-quarter results beat estimates.

AstraZeneca Plc raised its annual forecast, driven by strong demand for its blockbuster cancer drugs, and revealed a plan to invest $3.5 billion in the US business by the end of 2026.

The pharmaceutical giant raised its full-year guidance after third-quarter revenue and core earnings per share topped analysts’ expectations.