What is the story about?
What's Happening?
Amgen plans to invest $650 million to increase drug production at its Juncos, Puerto Rico facility, as part of its effort to expand its U.S. manufacturing network. This investment is expected to create nearly 750 jobs, including construction and highly-skilled manufacturing roles. The expansion will support advanced technology upgrades and installations throughout the facility. Amgen's CEO, Robert Bradway, highlighted the company's commitment to delivering innovative medicines and creating high-quality jobs. The investment is part of Amgen's broader strategy to advance U.S. innovation and manufacturing, supported by pro-growth tax policies.
Why It's Important?
The expansion is crucial for reinforcing America's leadership in biotechnology and strengthening the U.S. supply chain. By creating jobs and integrating advanced technology, Amgen is contributing to the U.S. economy and the biopharmaceutical sector. The investment also underscores the impact of pro-growth tax policies, which have facilitated domestic investments in science and manufacturing. The expansion in Puerto Rico, a key hub for biopharmaceuticals, highlights the island's role in the U.S. biopharmaceutical industry, supported by a skilled workforce and world-class infrastructure.
What's Next?
Amgen's expansion is part of a broader effort to advance U.S. innovation and manufacturing. The company has also committed $900 million to expand its New Albany, Ohio, facility and $1 billion to build a second factory in Holly Springs, North Carolina. These investments are expected to further bolster Amgen's manufacturing capabilities and support its growth in the biopharmaceutical sector.
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