Johnson & Johnson to Invest $2 Billion in New North Carolina Facility

Johnson & Johnson (NYSE:JNJ) is one of the 10 Best Stocks for 5 Years (Long-Term Stock Portfolio). On August 21, Johnson & Johnson (NYSE:JNJ) announced that it will be expanding its presence in North Carolina through a manufacturing facility of more than 160,000 square feet at FUJIFILM’s new biopharmaceutical manufacturing site in Holly Springs, North Carolina.

With a $2 billion commitment to FUJIFILM over the next 10 years, Johnson & Johnson (NYSE:JNJ) will increase its manufacturing capacity in the US. This project is also expected to create about 120 new jobs in North Carolina.

The company aims to produce the vast majority of its advanced medicines in the US to better serve the patients in the country.

In the coming months, Johnson & Johnson (NYSE:JNJ) also aims to share its plans for more advanced manufacturing facilities in the US as well as its plans to expand existing sites in the country.

Previously, in March, Johnson & Johnson (NYSE:JNJ) said it would invest $55 billion over the next four years to support US manufacturing, research and development, and technology investments.

Johnson & Johnson (NYSE:JNJ) is an American multinational healthcare company that specializes in pharmaceuticals and medical technologies.

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Disclosure: None. This article is originally published at Insider Monkey.