Biopharmaceutical giant Amgen said it plans to invest $650 million to increase drug production at its Juncos, Puerto Rico, facility, as part of a larger effort to expand its U.S. manufacturing network.
The investment is expected to create nearly 750 jobs, including in construction and highly-skilled manufacturing roles. It also will support advanced technology upgrades and installations throughout the Juncos facility, according to a news release. As of 2022, the site has 23 buildings and 2,400 employees.
“By growing our capacity to deliver innovative medicines with cutting edge technology in our manufacturing plants, we will not only better serve patients but also create high-quality jobs that reinforce America’s leadership in biotechnology,” Amgen CEO Robert Bradway said in a statement.
Amgen’s expansion is part of its broader effort to advance U.S. innovation and manufacturing. Within the past year, the company has committed $900 million to expand its New Albany, Ohio, facility and $1 billion to build a second factory in Holly Springs, North Carolina.
The Thousand Oaks, California-based company attributed its continued investment activity, in part, to the Trump administration’s pro-growth tax policies. Amgen said it has poured more than $40 billion into manufacturing and research and development since the passage of the Tax Cuts and Jobs Act of 2017 during President Donald Trump’s first term.
Amgen generated $33.4 billion in revenue last year, up 19% from 2023. Net income in 2024 totaled $4.1 billion, down nearly 40% from the previous year, driven by higher operating expenses and costs related to the acquisition of Horizon Therapeutics. The company is also facing a class-action lawsuit for accusations of concealing a $10.7 billion tax liability from shareholders, Reuters reported in September 2024.
The Juncos, Puerto Rico, facility is responsible for a “substantial majority” of Amgen’s commercial manufacturing activities, according to the company’s latest annual report. The company has a portfolio of 40 medicines covering general, rare disease, inflammation and oncology purposes.
Other biopharmaceutical giants are also pouring billions to bolster their U.S. footprint as tariffs pressure global supply chains and raise costs for doing business. Earlier this month, U.K.-based GSK pledged to invest $30 billion in manufacturing facilities, artificial intelligence and advanced technologies in the U.S. over the next five years. Eli Lilly recently unveiled plans to build multibillion-dollar factories in Houston and a town outside of Richmond, Virginia.
