(Reuters) -Gilead Sciences announced $11 billion in new planned investment in the U.S. to add to 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 to boost […]
Health
Gilead boosts planned US investments by $11 billion amid tariff threat
Audio By Carbonatix
(Reuters) -Gilead Sciences announced $11 billion in new planned investment in the U.S. to add to 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 to boost U.S. manufacturing and research and development through 2030, the drugmaker said.
These investments will be used for new technology, building three new facilities and upgrading three existing sites, it said.
Major U.S. drugmakers, including Eli Lilly, Johnson & Johnson, Merck and Bristol Myers Squibb, have also 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.
On Monday, Trump issued an executive order aimed at easing the regulatory burden in the U.S. for producing drugs and said he would make an announcement on the tariffs in the next two weeks.
Gilead said the additional $11 billion would lead to at least 800 new direct jobs and support more than 2,200 indirect jobs by 2028.
The company said its investments would create $43 billion in value to the U.S. economy over the next five years.
(Reporting by Christy Santhosh in Bengaluru; Editing by Shilpi Majumdar)