Johnson & Johnson has announced plans to invest more than $55 billion to build plants in the United States over the next four years amid pressure on drug makers from President Trump to reshore their manufacturing.
The American pharmaceutical company said it would build four new plants, including one in Wilson, North Carolina.
J&J, Pfizer and other firms that operate large non-US plants such as in Ireland are at risk from Trump’s plans to impose 25 per cent tariffs on imported pharmaceuticals.
Analysis by PwC has found that total tariff measures could increase from $0.5 billion a year to nearly $63 billion a year for the pharmaceutical, life science and medical device industry. That figure does not take into account countermeasures that trading partners may impose, or manufacturing adjustments that companies may make in reaction to US policy changes.
Date: 25 March