Novartis plans to invest $23 billion in US sites as Trump renews drug tariff threats

Swiss drugmaker Novartis (NOVN.S), opens new tab said on Thursday it plans to spend $23 billion to build and expand 10 facilities in the U.S., as it grapples with renewed threats of drug import duties from the Trump administration.

Novartis said it plans to build six new manufacturing plants, some of which will make raw pharmaceutical ingredients, as well as a new research and development site in San Diego, California.

Novartis' drugs, including heart failure medicine Entresto and breast cancer therapy Kisqali, are manufactured across 33 sites globally.

The new sites and extensions will be built over the next five years and are expected to create more than 1,000 jobs for skilled workers like engineers and scientists as well as another 3,000 support staff and construction jobs, Novartis said.

The company said it had yet to decide where to build four of its new manufacturing plants, but that two used to produce certain cancer therapies would be built in Florida and Texas.

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