Amgen has announced a five-year capital investment plan of $3.5 billion, which includes a new $300-million manufacturing plant in the US. Amgen made the announcement in its full-year and fourth-quarter 2017 earnings report.

The company expects to invest approximately $3.5 billion in capital expenditures over the next five years, with approximately 75% of that investment in the US, up from about 50% in recent years. This investment includes committing up to $300 million to build a new manufacturing plant in the US. The new facility will use Amgen’s biomanufacturing capabilities to manufacture products for the US and export markets. The construction and validation work is expected to add 220 jobs to the local economy. In addition, Amgen expects this new facility to employ up to 300 skilled full-time employees. Amgen expects to finalize the exact location in the second quarter of 2018.

Amgen is also increasing the size of the Amgen Ventures fund, providing up to $300 million of growth capital for early-stage, innovative biotechnology companies in the US.

Source: Amgen