Pharmaceutical giant Johnson & Johnson will invest $55bn into US manufacturing, research and development (R&D) and tech during the next four years.
This 25% uptick in investment follows the company's prior increases to its US capacity, which resulted from the passing of the Tax Cuts & Jobs Act of 2017.
On top of the company's plans for its biologics manufacturing facility in Wilson, North Carolina, J&J will be building three new advanced manufacturing facilities, as well as the expansion of several other MedTech and Innovative Medicine sites the company owns across the US.
J&J will also invest in its US R&D capacity, which is currently focused on the development of oncological, neuroscience, immunology and cardiovascular therapeutics.
On top of its R&D and manufacturing capabilities, the pharmaceutical company will further invest in technologies, which will aim to expedite the drug discovery and development process, as well as support employee training and operational efficiency.
Through these investments J&J estimates that it will bolster the US economy by more than $100bn per year.
Progress at the Wilson site
As work begins at the novel Wilson, North Carolina biologics manufacturing facility, J&J notes that the facility will create approximately 500 skilled roles.
During the construction period, approximately 5,000 jobs will be created, and a $3bn impact will be seen across the state within the first decade of the facility's operation.
“Today’s announcements accelerate our nearly 140-year legacy as an American innovation engine tackling the world's toughest healthcare challenges,” said Chair and CEO of Johnson & Johnson, Joaquin Duato.
“Our increased US investment begins with the ground-breaking of a high-tech facility in North Carolina that will not only add US-based jobs but manufacture cutting edge medicines to treat patients in America and around the world."