Johnson & Johnson raises US investment to more than $55B

By Diyar Guldogan and Mucahithan Avcioglu

WASHINGTON/ ISTANBUL (AA) - Johnson & Johnson on Friday announced manufacturing, research and development, and technology investments of more than $55 billion in the US over the next four years.

The figure is a 25% increase in investment compared to the previous four years, the US-based pharmaceutical company said in a statement.

It estimates that the US economic impact will be more than $100 billion a year.

In addition to a facility in the Southern state of North Carolina, the company will construct three new advanced manufacturing facilities as part of its expansion plan.

The company is also planning to make investments in research and development infrastructure and technology in areas such as oncology, neuroscience, immunology, cardiovascular disease, robotic surgery, and drug discovery.

"Our increased U.S. investment begins with the ground-breaking of a high-tech facility in North Carolina that will not only add U.S.-based jobs but manufacture cutting edge medicines to treat patients in America and around the world," said Chairman and CEO Joaquin Duato.