Johnson & Johnson to invest more than $55 billion in its U.S. pharmaceutical business

U.S. healthcare giant Johnson & Johnson (J&J) has unveiled plans to invest more than $55 billion in the United States over the next four years. The company said the massive investment is a 25% increase over the previous four years.

"Our increased investment in the United States begins with the groundbreaking of a high-tech plant in North Carolina that will not only increase U.S. jobs, but will also produce cutting-edge medicines to treat patients in the United States and around the world," said Joaquin Duato, CEO of Johnson & Johnson.

A new biologics manufacturing plant has broken ground in Wilson, North Carolina, marking the start of new investment. The plant will increase the production capacity of Johnson & Johnson's next-generation drugs for the treatment of cancer, immune-mediated and neurological diseases, and the plant is expected to create more than 500 new jobs.

In addition to the new plant in Wilson, Johnson & Johnson's plans include the establishment of three new manufacturing plants, the expansion of multiple innovative medicines and medical technology plants, and major investments in R&D infrastructure and technology.