J&J to invest more than $2 billion in new manufacturing facility

(Reuters) -Johnson & Johnson said on Tuesday it will invest more than $2 billion to build a new manufacturing facility at Wilson, North Carolina, aiding production of new therapies.

The new facility will expand J&J (NYSE:JNJ)’s production of medicines to treat cancer, immunity-related and neurological diseases, the company said.

The company expects to begin construction of the facility in the first half of 2025, J&J said, adding that it will employ about 400 full-time staff when it is fully operational.