ZURICH (Reuters) -Novartis will expand its operations in North Carolina and build a manufacturing hub there as part of a planned $23 billion of U.S. infrastructure investment over the next five years, the Swiss pharmaceuticals company said on Wednesday.
The expansion is projected to create 700 new positions at Novartis and more than 3,000 indirect jobs across the supply chain by 2030, the company's statement said.
The announcement follows a preliminary deal struck by the U.S. and Swiss governments last week to cut U.S. tariffs on Switzerland to 15% from 39%.
Central to the deal is a pledge by Swiss companies such as Novartis to invest $200 billion in the U.S. by the end of 2028.
Novartis said the new hub, expected to open in 2027 or 2028, will comprise two new facilities in Durham, North Carolina, for biologics manufacturing and sterile packaging, and a site in Morrisville for solid dosage production and packaging.
Novartis said it will also expand its existing Durham campus to support sterile filling of biologics.
The expansion is designed to increase the company's manufacturing capacity so that all of its key U.S. medicines can be produced domestically, it said.
(Writing by Dave GrahamEditing by David Goodman)
Best Vegetarian Dinner: What's Your Plant-Based Pick?- 'Dancing With the Stars' Season 34 finale: Who might win the mirror ball trophy? Where do the remaining contestants rank?
- 21 Things You Ought to Never Share with Your Childless Companion
- Flourishing as a Charitable Pioneer: Individual Encounters in Generosity
- Vote In favor of Your Favored Pet Consideration Administration
- Supercharge Your Remote Work Arrangement with These Game-Changing Instruments
- The Benefits of Effective money management for Your Youngsters' Future Monetary Prosperity
- Pick Your Favored kind of sandwich
- From Exemplary to Current: Famous Rings Available
