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)
Canada cancels its 1st moon rover: 'It's hopefully not a lost cause'- 1,000-mile Saharan dust storm, from the sky and from the ground
- L.A.'s most famous midcentury home, the Stahl House, is on the market for the 1st time, at $11K per square foot: See inside
- Rebecca Gayheart on her 'very complicated' relationship with Eric Dane: 'I am always going to want the best for him'
- The Best Portable Applications for Emotional wellness and Prosperity
- They died 'doing what they loved': The stories of workers in their 80s who died on the job
- Artemis 2 astronauts head for the moon after make-or-break engine burn (video)
- 5 Side interests That Work on Psychological wellness
- 10 Asian Countries Perfect for Solo Female Travelers
