LONDON: British pharmaceutical group GSK said Wednesday it will invest $30 billion in the United States over the next five years, as drugmakers face pressure from US President Donald Trump to produce more in the country.
The investments, announced on the first day of Trump’s state visit to Britain, will bolster GSK’s research and development as well as production capacities in the United States, the company said.
Trump unleashed a barrage of tariffs after his re-election in a bid to force a range of industries to increase domestic production, accusing them of contributing to an “unfair” US trade deficit.
“This week’s state visit brings together two countries that have led the world in science and healthcare innovation,” GSK chief Emma Walmsley said in a statement.
The US committment includes a $1.2-billion plan to build a biologics factory in Pennsylvania for developing respiratory and cancer treatments, and artificial intelligence development at its five US manufacturing sites.
GSK said it already has around 15,000 employees in the United States, and its investments would create “hundreds of highly skilled jobs”.
American Dollar Exchange Rate