The amount of intended investments is 25% greater than the investments made in the prior four years.
As stated in a press release from J&J, the company plans to allocate funds for manufacturing, research and development (R&D), and technological advancements.
J&J intends to construct four new factories in the U.S., featuring a high-tech plant in North Carolina that is valued at over $2 billion and began construction on Friday. The project is expected to generate over 500 jobs in the state and 5,000 positions during the construction period.
The firm also plans to enlarge several current facilities. Moreover, it aims to make significant investments in R&D infrastructure to create therapies in fields like oncology, neuroscience, immunology, cardiovascular diseases, and robotic surgery
source: bloomberg.com
