- Genentech commits to a $50 billion investment in U.S. manufacturing, infrastructure, and R&D.
- A new manufacturing facility is being developed in Holly Springs, North Carolina.
- The agreement includes a three-year exemption from tariffs for Genentech.
- Genentech's direct-to-patient program for flu medicines will expand via TrumpRx.gov.
Agreement Overview
Genentech has reached an agreement with the U.S. government to lower prescription drug costs for state Medicaid programs. The agreement also aims to encourage other wealthy nations to reward biopharmaceutical innovation.
Direct-to-Patient Program
Genentech will expand its direct-to-patient program for essential flu medicines, making it available through TrumpRx.gov. This initiative is part of the company's commitment to increase patient access to its medicines.
Investment in U.S. Manufacturing
The company has announced a $50 billion investment in U.S. manufacturing, infrastructure, and R&D. This includes the development of a new facility in Holly Springs, North Carolina, and the onshoring of billions of dollars in research and manufacturing.
Job Creation and Economic Impact
These investments are expected to support over 11,000 jobs, including approximately 6,500 construction jobs. Up to 1,000 highly skilled jobs will be created at new and expanded sites, adding to the existing 25,000 Genentech employees in the U.S.
Tariff Exemption
Genentech has secured a three-year exemption from tariffs, which will facilitate the company's continued investment and expansion of its manufacturing footprint in the U.S. The agreement also ensures that Genentech will not be subject to future pricing mandates.
