Novartis plans $23B investment in US facilities to create jobs, expand operations

From Yahoo Finance: 2025-04-10 17:52:00

Swiss pharmaceutical giant Novartis plans to invest $23 billion in the U.S. for the construction and expansion of 10 facilities, including six new manufacturing plants and a research site. This move follows President Trump’s threat of tariffs on pharmaceuticals. Novartis expects to create over 4,000 American jobs with this investment.

President Trump recently announced a forthcoming major tariff on pharmaceuticals, prompting Novartis’ investment decision. The company plans to build two cancer therapy manufacturing plants in Florida and Texas. Novartis CEO Vas Narasimhan stated that while tariffs were considered, they were not the main driver behind the investment.

Novartis’ $23 billion investment in U.S. facilities is aimed at creating jobs and expanding operations. In response to potential tariffs, prominent pharmaceutical companies like Eli Lilly and Johnson & Johnson have also pledged billions for domestic investments. Novartis’ stock remained stable despite broader market declines, showing a 6% gain in 2025.



Read more at Yahoo Finance: Novartis Plans $23B Investment in US Facilities as Trump Threatens Pharma Tariffs