Washington, DC [US], March 22 : Johnson and Johnson, US healthcare's leading, most comprehensive innovation powerhouse, announced on Friday that it will invest more than USD 55 billion in manufacturing, research and development, and technology in the United States over the next four years.
According to Johnson and Johnson's statement, this represents a 25 per cent increase in investment compared to the previous four years and builds upon the Company's already elevated US investment levels resulting from the passage of the 2017 Tax Cuts & Jobs Act.
"Today's announcements accelerate our nearly 140-year legacy as an American innovation engine tackling the world's toughest healthcare challenges," said Joaquin Duato, Chairman and Chief Executive Officer of Johnson and Johnson. "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."
In addition to the facility in Wilson, North Carolina, the Company's increased investment in the US over the next four years includes three new advanced manufacturing facilities and the expansion of several existing sites across the Company's Innovative Medicine and medtech businesses, which will create high-paying, high-technology jobs. The Company will share further information on these sites once it is available.
Further, it also included significant investments in extensive R&D infrastructure aimed at developing lifesaving and life-changing treatments in areas such as oncology, neuroscience, immunology, cardiovascular disease, and robotic surgery. Increased technology investments will help speed drug discovery and development, support workforce training, and enhance our business operations.
According to the company's statement, the North Carolina investment creates jobs starting today in Wilson, North Carolina, where the Company is officially breaking ground on its new, 500,000-square-foot, state-of-the-art biologics manufacturing facility.
"Expand our capacity to manufacture next-generation medicines for people living with cancer and immune-mediated and neurological diseases in America and around the world. Support approximately 5,000 jobs during construction and create over 500 positions in North Carolina," it added.
Johnson & Johnson has more manufacturing facilities in the US than in any other country and is a leading investor in American innovation and R&D. Focusing on pharmaceuticals and medical technology, the Company stands alone in its ability to impact the full spectrum of disease.
From cardiology to cancer, mental health to vision, cell therapies to robotics, the depth and breadth of Johnson & Johnson's expertise and capabilities are unique.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor