Business
Johnson & Johnson invests $1B in Pennsylvania cell therapy facility
Johnson & Johnson executive vice president and CFO Joseph Wolk discusses the companys performance and President Donald Trumps healthcare agenda on The Claman Countdown.
Johnson & Johnson on Wednesday announced plans to invest more than $1 billion in a next-generation manufacturing facility that will produce advanced cell therapy technologies.
The facility will be located in Montgomery County, Pennsylvania, and Johnson & Johnson said the move will expand its U.S. manufacturing capacity along with its pipeline of transformational medicines for cancer, immune-mediated and neurological diseases.
Johnson & Johnson added that the facility will have cutting-edge manufacturing processes and support over 500 skilled biomanufacturing jobs once its fully operational, as well as over 4,000 construction jobs during its construction.
“For 140 years, Johnson & Johnson has been a leading innovator in American healthcare, and we are honored to continue advancing that legacy in Pennsylvania,” said Johnson & Johnson CEO Joaquin Duato.
JOHNSON & JOHNSON INVESTING $2B IN US MANUFACTURING, CREATING NEW JOBS
Johnson & Johnson announced plans to invest $1 billion in a new gene therapy manufacturing facility in Pennsylvania. (Cristina Arias/Cover/Getty Images)
“By uniting scientific excellence with state-of-the-art manufacturing and strategic investment, and by working collaboratively with our communities, we are delivering for patients and creating significant opportunities for workers and families,” Duato added.
The $1 billion investment in the new cell therapy manufacturing facility comes as part of the company’s previously announced plan to invest $55 billion in manufacturing, research and development, and technology in the U.S. through early 2029.
OBAMACARE ENROLLMENT FELL BY MORE THAN 1M ENROLLEES FOR 2026
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JNJ | JOHNSON & JOHNSON | 245.90 | +0.97 | +0.40% |
Johnson & Johnson noted that the facility will deepen its presence in Pennsylvania, which it said has an economic impact of about $10 billion annually.
The company has 10 facilities covering over 2 million square feet in the Keystone State. Johnson & Johnson has manufacturing, research, distribution and office operations in Pennsylvania.
Johnson & Johnson’s investment is part of a previously announced $55 billion commitment. (Courtesy of Johnson & Johnson)
Pennsylvania Gov. Josh Shapiro, a Democrat, said that the announcement shows the state is a “powerhouse for innovation and manufacturing in the life sciences” and added that the Johnson & Johnson announcement shows that companies “know we’ve got the strategy, the workforce, and the speed they need to succeed.”
“Pennsylvania leads in life sciences and advanced manufacturing because we consistently deliver what companies like Johnson & Johnson need to succeed: a skilled workforce, premier research institutions, and proven manufacturing strength,” said Sen. Dave McCormick, R-Pa. “This $1 billion-plus investment in a new Lower Gwynedd facility is a testament to that leadership and will produce life-changing treatments for patients, along with new and good jobs for our Commonwealth.”
GET FOX BUSINESS ON THE GO BY CLICKING HERE
“Pennsylvania is a leader in healthcare innovation with some of the very best health care workers. Proud to see this more than $1 billion investment into Montgomery County and our Commonwealth,” said Sen. John Fetterman, D-Pa. “Bringing new jobs, advanced manufacturing, and life-saving medicine to and for our communities is always something to celebrate.”
Trump pitches economic plan in Georgia as high prices frustrate voters
German tax revenues fell by 3.4% in January, finance ministry says
Form 13G Alpha Cognition Inc. For: 19 February
Form 13G Power REIT For: 19 February
The Royal Flying Doctor Service in Western Australia has elected Robert Slocombe as chair, effective from April 27.
Iran tells UN chief it will respond ’decisively’ if subjected to military aggression
Southern Co raises spending plan by 7% as data center power demand swells
Check out what’s clicking on FoxBusiness.com.
Tesla CEO Elon Musk said the company plans to sell its fully autonomous Cybercab for $30,000 or less by 2027.
The electric-vehicle maker announced Tuesday that the first Cybercab had rolled off the production line at its Giga Texas factory. Shortly after, Musk responded on X to a user seeking clarification about whether the vehicle would actually launch at that price point before 2027.
“Elon – to be clear – the bet was that Tesla wouldn’t sell a Cybercab to a customer for $30k or less before 2027,” the user asked. “Are you saying THAT specifically is going to happen?”
“Yes,” Musk responded.
TESLA DODGES CALIFORNIA LICENSE SUSPENSION AFTER DROPPING MISLEADING ‘AUTOPILOT’ MARKETING TERMS
Elon Musk attends the Viva Technology conference at the Porte de Versailles exhibition center on June 16, 2023, in Paris, France. (Chesnot/Getty Images)
The “bet” referenced in the exchange dates back to 2024, when Musk first unveiled the long-anticipated robotaxI and said it would cost less than $30,000 and enter production in 2026.
YouTuber Marques Brownlee, known as MKBHD, publicly questioned at the time whether Tesla could hit that target by 2027, saying he would shave his head on camera if Musk proved him wrong.
Following Tuesday’s production milestone, Musk appeared to lean into the challenge, reacting to an edited image of a bald Brownlee circulating on X.
The exterior of a Tesla Cybercab at the 2025 Autosalon on Jan. 10, 2025 in Brussels, Belgium. (Sjoerd van der Wal/Getty Images)
“Gonna happen,” Musk wrote, adding a laughing emoji.
The Cybercab is a two-seat vehicle designed without traditional driving controls such as pedals or a steering wheel.
Tesla describes it as a “purpose-built fully autonomous vehicle” that will eventually offer rides directly to consumers.
TESLA ENDS PRODUCTION OF MODEL S AND MODEL X VEHICLES, WILL FOCUS ON ROBOTS IN 2026
A Tesla Cybercab is pictured on display at the AutoSalon on Jan. 10, 2025 in Brussels, Belgium. (Sjoerd van der Wal/Getty Images)
CLICK HERE TO GET FOX BUSINESS ON THE GO
Still, Musk warned last month that early production of both the Cybercab and Tesla’s humanoid robot, Optimus, would be “agonizingly slow” before ramping up over time, Reuters reported.
Tesla and Brownlee did not immediately respond to FOX Business’ request for comment.
Nvidia shares rose around 2.5% Wednesday morning, following a tepid start to 2026.
Shares of Meta and Google parent Alphabet were little changed.
Shares of chip designer Arm gained about 1.5%. Nvidia uses Arm’s technology in its CPUs.
Mister Car Wash Is Going Private. Why Things Never Worked Out for the Stock.
Trump pitches economic plan in Georgia as high prices frustrate voters
Bitcoin $60K Retest Odds Rise As Bearish Options, ETF Outflows Show Fear
FCC Says There Was ‘No Violation’ in Bad Bunny’s Super Bowl Halftime Show
-
Video3 days agoBitcoin: We’re Entering The Most Dangerous Phase
-
Tech5 days agoLuxman Enters Its Second Century with the D-100 SACD Player and L-100 Integrated Amplifier
-
Crypto World3 days agoCan XRP Price Successfully Register a 33% Breakout Past $2?
-
Sports3 days agoGB's semi-final hopes hang by thread after loss to Switzerland
-
Video6 days agoThe Final Warning: XRP Is Entering The Chaos Zone
-
Tech3 days agoThe Music Industry Enters Its Less-Is-More Era
-
Business2 days agoInfosys Limited (INFY) Discusses Tech Transitions and the Unique Aspects of the AI Era Transcript
-
Entertainment1 day agoKunal Nayyar’s Secret Acts Of Kindness Sparks Online Discussion
-
Video3 days agoFinancial Statement Analysis | Complete Chapter Revision in 10 Minutes | Class 12 Board exam 2026
-
Tech2 days agoRetro Rover: LT6502 Laptop Packs 8-Bit Power On The Go
-
Crypto World6 days agoBhutan’s Bitcoin sales enter third straight week with $6.7M BTC offload
-
Sports19 hours agoClearing the boundary, crossing into history: J&K end 67-year wait, enter maiden Ranji Trophy final | Cricket News
-
Entertainment1 day agoDolores Catania Blasts Rob Rausch For Turning On ‘Housewives’ On ‘Traitors’
-
Crypto World6 days agoKalshi enters $9B sports insurance market with new brokerage deal
-
Business2 days agoTesla avoids California suspension after ending ‘autopilot’ marketing
-
NewsBeat4 days agoThe strange Cambridgeshire cemetery that forbade church rectors from entering
-
Crypto World1 day agoWLFI Crypto Surges Toward $0.12 as Whale Buys $2.75M Before Trump-Linked Forum
-
NewsBeat4 days agoMan dies after entering floodwater during police pursuit
-
NewsBeat5 days agoUK construction company enters administration, records show
-
Crypto World1 hour ago83% of Altcoins Enter Bear Trend as Liquidity Crunch Tightens Grip on Crypto Market