Amgen Inc (AMGN) Ramps Up Manufacturing Capacity in US, Amidst Hefty Tariffs

Amgen Inc. (NASDAQ:AMGN) is one of the Top Blue Chip Stocks to Buy At 52-Week Lows. On September 26, Reuters reported that global drugmakers are rushing to increase their manufacturing capacity in the United States as the Trump administration is imposing hefty tariffs on pharmaceutical imports.

As a result, Amgen Inc. (NASDAQ:AMGN) is also ramping up investment to enhance its manufacturing capacity in the United States. The company earlier in August announced a $900 million investment to expand its Ohio manufacturing facility, taking its total investment in the state to $1.4 billion. More recently, in September, Amgen Inc. (NASDAQ:AMGN) announced its plan to invest more than $600 million to build a new research and development center in California. It is also investing another $650 million to expand drug manufacturing in Puerto Rico.

Amgen Inc. (NASDAQ:AMGN) is a biotechnology company that discovers and develops medicines for serious diseases.

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