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Block 894,672
TL:DRRoche will invest $50 billion in American manufacturing over the next five years, including building a new facility somewhere in Indiana. The Swiss biotech company said the investment will eventually allow the company to export more medicines from the United States than it imports into the country.Investments in Indiana will include a new plant for continuous glucose monitors and expanding existing manufacturing and research centers in the state, Roche announced Tuesday.
The news comes as President Donald Trump pushes the United States further into an economic policy war with key trading partners such as China, Canada, Mexico and the European Union.
As a result, many big-name corporations have announced they will spend billions of dollars to build factories and manufacturing facilities in America instead of in foreign countries, most likely to skirt current or future tariffs under Trump. Manufacturing is an expensive and time-consuming industry as it can take years to build new plants.
Trump has also said he is considering an increased tariff on pharmaceuticals.
"Today’s announced investments underscore our long-standing commitment to research, development and manufacturing in the U.S.,” said Thomas Schinecker, Roche Group CEO in a statement.
Roche was founded in 1896 to create innovative medicine and diagnostic tests for patients and healthcare systems. Headquartered in Switzerland, Roche Diagnostics has a strong presence in Indianapolis with its North American headquarters located along I-69 on the border of Fishers and Marion County.Roche has not specified where the new Indiana facility will be located and said more information would be available in the coming weeks. In 2017, Roche spent $300 million to revamp the Indianapolis campus.
Roche's $50 billion investment includes multiple facilities across the country, including:
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A state-of-the-art gene therapy manufacturing facility in Pennsylvania
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A 900,000-square-foot manufacturing center in an unconfirmed state for next-generation weight loss medicines
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A new manufacturing facility for continuous glucose monitors in Indiana
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A new research and development center in Massachusetts for artificial intelligence studies and cardiovascular, renal and metabolism research
The new sites will create more than 12,000 new jobs, Roche said, including 6,500 construction jobs and 1,000 jobs at new and expanded facilities. A spokesperson did not say how many jobs the Indiana plant would create.My Thoughts 💭
Unsure if this directly related to Trump but either way happy to see this level of outside investment come to USA.