AMGEN announces $300 million US manufacturing investment

Amgen Inc. (NASDAQ: AMGN) announced plans to invest an additional $300 million in its U.S. manufacturing network, according to a press release statement. The investment will expand the company's biologics manufacturing facility in Puerto Rico to enhance production capacity and advance next-generation technologies.

"Amgen has been a leader in U.S. biomanufacturing for decades, and this expansion reflects our continued commitment to American manufacturing," said Robert A. Bradway, chairman and chief executive officer at Amgen. "By growing our operations in Puerto Rico, we are ensuring patients have access to the medicines they need, investing in the long-term strength of our domestic supply chain and supporting American jobs."

The expansion will strengthen existing manufacturing roles at the Juncos facility and generate hundreds of construction jobs. Established in 1992, the Puerto Rico site produces biologic medicines distributed to more than 60 countries.

The latest investment adds to Amgen's broader U.S. manufacturing expansion strategy. Over the past year, the company has announced planned investments of $650 million in Puerto Rico, $900 million in Ohio and $600 million in a science and innovation center in California. The company has also invested more than $1.5 billion in North Carolina.

"This investment confirms that the policies we have implemented are working. Puerto Rico has more than 60 years of excellence in the biopharmaceutical sector, supported by a highly skilled workforce and world-class infrastructure," said Puerto Rico Governor Jenniffer González Colón.

Amgen reports it has invested more than $40 billion in manufacturing and research and development since the enactment of the Tax Cuts and Jobs Act of 2017.

You May Also Be Interested In

• SpaceX files for 555.56M share IPO at $135/sh
• 3 E Network Technology (MASK) files for 17.13M share offering by selling stockholders
• Costco reports May net sales of $24.01 billion, up 14.5% from year ago