Novartis Pledges $23 Billion US Investment as Tariffs Loom

Swiss pharmaceutical firm Novartis AG plans to invest $23 billion in the US over the next five years to ensure its key drugs for Americans are made in the country, after President Donald Trump promised to impose tariffs on global drugmakers.

The investment will fund seven new facilities, including a research outpost in California and six manufacturing sites across the country, Novartis said in a statement Thursday. The firm will also expand three existing US facilities, part of an effort that will create 1,000 jobs at the company.