Johnson & Johnson (NYSE:JNJ) is set to invest $2 billion in its North Carolina facilities, expanding its U.S. manufacturing operations. This move comes in response to potential drug import tariffs proposed by the Trump administration.
Trump’s 250% Pharma Tariff Spurs Domestic Drug Manufacturing
J&J announced its investment on Thursday, as reported by Reuters. The company aims to bolster its U.S. manufacturing presence in light of the looming drug import tariffs proposed by the Trump administration. This decision aligns with similar moves by other major pharmaceutical companies, including Eli Lilly (NYSE:LLY) and AstraZeneca (NASDAQ:AZN).
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The proposed tariffs, which could start small and eventually reach 250%, have prompted major drugmakers to increase their U.S. footprint. J&J has entered a 10-year agreement with Fujifilm Biotechnologies to expand its North Carolina manufacturing facility, creating approximately 120 new …