By Peter Loftus
Drugmakers Roche and Regeneron said they will spend billions of dollars to expand U.S. manufacturing, the latest pharmaceutical companies to commit to American production as new and future tariffs loom over medicines made abroad.
Roche will invest $50 billion over five years, including in a new factory to make glucose-monitoring devices and a new plant for weight-loss drugs. The Swiss drugmaker said the investments will create 12,000 construction and other jobs.
Regeneron, which makes drugs for skin and respiratory diseases, is doubling its U.S. manufacturing capacity in a new $3 billion, 10-year agreement with Fujifilm Diosynth Biotechnologies. Fujifilm's plant in Holly Springs, N.C., will make bulk drug material for Regeneron medicines.
Chief Executive Leonard Schleifer said the deal would bolster the supply of Regeneron's medicines "while generating economic growth and high-paying jobs for America itself." Regeneron also makes medicines in New York State and Limerick, Ireland.
In addition to a new global baseline tariff, the Trump administration opened an investigation that could lead to tariffs on imported medicines, potentially in May. Drugmakers including Eli Lilly and Johnson & Johnson have trumpeted new plans in recent weeks to grow their U.S. manufacturing footprint.
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(END) Dow Jones Newswires
April 22, 2025 06:51 ET (10:51 GMT)
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