Jan 20 (Reuters) - Roche's Genentech said on Tuesday it will more than double its initial investment in a biomanufacturing facility in North Carolina to about $2 billion, as the companies look to
Genentech Increases North Carolina Facility Investment to $2 Billion
Genentech's Investment in North Carolina
Jan 20 (Reuters) - Roche's Genentech said on Tuesday it will more than double its initial investment in a biomanufacturing facility in North Carolina to about $2 billion, as the companies look to further boost their $50 billion investment in the U.S.
Facility Details and Operations
The facility, based in Holly Springs, North Carolina is set to be operational by 2029 and will produce next-generation treatments for metabolic conditions, such as obesity.
Job Creation and Economic Impact
The investment is expected to support more than 2,000 jobs, which includes 500 high-wage manufacturing jobs and 1,500 construction jobs, Genentech said, adding that the expansion will further raise production volumes and scale manufacturing capacity within the facility.
Previous Investments and Expansion Plans
In May last year, Genentech invested over $700 million in the North Carolina facility, as it looked to expand its presence in the United States amid President Donald Trump's push for pharma companies to onshore domestic manufacturing to the U.S.
(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Shailesh Kuber)
