On Tuesday, Johnson & Johnson (NYSE: JNJ) said it will invest more than $2 billion to build a new manufacturing facility in Wilson, North Carolina, aiding the production of new therapies.
The new facility will expand J&J’s production of biologic medicines to treat cancer, immunity-related, and neurological diseases, the company said.
The drugmaker aims to launch or file for more than 70 new therapies and expanded treatment options for patients by 2030.
Johnson & Johnson (NYSE: JNJ) is investing in capacity to ensure a resilient supply chain for the future, said Dapo Ajayi, vice president at J&J’s innovative medicine supply chain.
The company expects to commence construction of the facility in the first half of 2025, J&J said, adding that it will employ about 400 full-time staff when it is fully operational.
(Source: Reuters)
Maria Reed is a financial journalist with a passion for covering US equities. She joined the ABBO News team in June 2023. Maria holds an M.S. degree in International Economics and Finance from Otto-von-Guericke University in Magdeburg and is a CFA Level 2 candidate.
