(Reuters) -Gilead Sciences announced $11 billion in new planned investment in the U.S. to boost its domestic manufacturing and research heft, becoming the latest company to announce spending plans in reaction to President Donald Trump’s tariff policy.
The new investments, unveiled on Wednesday, will supplement an already planned spending of $21 billion in U.S. manufacturing and R&D through 2030, the drugmaker said.
Gilead said these investments will be used for new technology, building three new facilities and upgrading three existing sites.
U.S. drugmakers, including Eli Lilly, Johnson & Johnson and Merck, have recently announced additional investments to boost domestic production amid the tariff threat.
The Trump administration has been putting pressure on U.S. drugmakers to move their medicine production to the country and announced probes into drug imports that set the stage for levies in the sector.
(Reporting by Christy Santhosh in Bengaluru; Editing by Shilpi Majumdar)
Comments