Today, Johnson & Johnson announced its plans to invest over $55 billion, over the next four years, in the United States.
According to the company press release, the deal “includes four planned new manufacturing facilities, with groundbreaking today in North Carolina on a $2 billion+ facility,” which will result in the “total company U.S. economic impact estimated to exceed $100 billion per year.”
The company stated that the investment reflects a 25% increase in its U.S. investments.
Joaquin Duato, Chairman and Chief Executive Officer of Johnson & Johnson informed investors: “Our increased U.S. investment begins with the ground-breaking of a high-tech facility in North Carolina that will not only add U.S.-based jobs but manufacture cutting edge medicines to treat patients in America and around the world.”
According to the press release, Johnson & Johnson has more manufacturing facilities in the U.S. than in any other country and is a leading investor in American innovation and R&D.
Analysts believe the decision signifies a looming threat of drug import duties from the Trump administration, which will compel companies to expand their manufacturing operations domestically.
“Today’s announcements accelerate our nearly 140-year legacy as an American innovation engine tackling the world’s toughest healthcare challenges,” Duato stated.
By CEO NA Editorial Staff
