Novartis AG (NVS), the Swiss pharmaceutical major, Friday announced that it broke ground yesterday on more than 700,000-square-foot flagship manufacturing hub in North Carolina.
Termed as the North Carolina project, it will include the construction of a new facility in Morrisville and a new site in Durham encompassing two new facilities, as well as the expansion of an existing Novartis facility in Durham.
With these investments together the company expects to create 700 new jobs in North Carolina by 2030 and support more than 3,000 indirect jobs across the Novartis US supply chain.
The manufacturing hub is anticipated to open in 2027-28.
This expansion is a key pillar in the company's $23 billion investment in US-based infrastructure over the next five years, Novartis said in a statement.
In pre-market activity, NVS shares were trading at $132.37, up 0.01% on the New York Stock Exchange.
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