An entry sign to the Johnson & Johnson campus shows their logo in Irvine, California on August 28, 2019.
Mark Ralston | AFP | Getty Images
Johnson & Johnson plans to spend over $55 billion to build four plants in the U.S., it said on Friday, as a threat of drug import duties from the Trump administration forces companies to expand their manufacturing operations domestically.
The new plants will be built over the next four years, including in Wilson, North Carolina, where the pharmaceutical giant officially broke ground on Friday. The drug and device maker said the investment represents a 25% increase compared to the last four years.
Last month, drugmaker Eli Lilly announced its plans to invest in the country, as companies brace for the impact of a potential 25% tariff on pharmaceutical imports.
Companies such as J&J and Pfizer could be at risk as they operate large plants in countries…
