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J&J to invest over $2 billion for new manufacturing facility in North Carolina

Published 10/01/2024, 02:08 PM
Updated 10/01/2024, 03:06 PM
© Reuters. FILE PHOTO: A Johnson & Johnson banner is displayed on the front of the New York Stock Exchange (NYSE) in New York City, in New York City, U.S., December 5, 2023.  REUTERS/Brendan McDermid/File Photo
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(Reuters) -Johnson & Johnson said on Tuesday it will invest more than $2 billion to build a new manufacturing facility in Wilson, North Carolina, aiding production of new therapies.

The new facility will expand J&J (NYSE:JNJ)'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.

© Reuters. FILE PHOTO: A Johnson & Johnson banner is displayed on the front of the New York Stock Exchange (NYSE) in New York City, in New York City, U.S., December 5, 2023.  REUTERS/Brendan McDermid/File Photo

J&J 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.

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