Amgen Announces $650M Expansion Of US Manufacturing Network After Trump’s Pharma Tariff Announcement

Amgen (AMGN) on Friday announced a $650 million expansion of its U.S. manufacturing network, on the heels of President Trump’s latest pharmaceutical tariff announcement.

Trump said in a post on Truth Social on Thursday that the United States will impose a 100% tariff on branded and patented pharmaceutical products starting October 1 unless manufacturers are actively building plants in the country.

Amgen said on Friday that the planned investment will support increased drug production at the company's biologics manufacturing facility in Juncos, Puerto Rico. The investment is also expected to create about 750 jobs, including construction roles and skilled manufacturing jobs. According to Amgen, the company has invested more than $40 billion in U.S. manufacturing and research and development since late 2017.

Earlier this year, the company announced a $900 million expansion of its Ohio manufacturing facility, which followed a late-2024 announcement of a $1 billion expansion to establish a second drug substance manufacturing facility in North Carolina.

On Stocktwits, retail sentiment around AMGN stock fell from ‘bullish’ to ‘neutral’ territory over the past 24 hours, while message volume stayed at ‘high’ levels.

Jefferies analyst Akash Tewari stated on Friday that Trump’s tariffs may not have a material impact on pharmaceutical companies, as several large-cap pharmaceutical firms have already announced plans to establish U.S. manufacturing facilities.

A Stocktwits user echoed the analyst’s sentiment, stating that Amgen will also likely be unaffected by the tariffs.

AMGN stock is up 4% this year and down by about 15% over the past 12 months.

Read also: bioAffinity Technologies Stock Surged A Whopping 79% Today – Here’s An Important Update

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