Hikma Pharmaceuticals PLC has pledged to invest $1 billion by 2030 to further expand its US manufacturing and R&D capabilities.
In a statement on Saturday, the London-based pharmaceutical company said the investment will help develop, produce and deliver a broad range of medicines needed by the US healthcare system.
The investment will increase the volume of medicines Hikma develops and produces across its R&D and manufacturing sites in Columbus and Cleveland, Ohio and in Cherry Hill and Dayton, New Jersey.
Hikma has operated in the US since 1991 and has spent more than $4 billion over the past 15 years to build, enhance and expand its US-based R&D and manufacturing capabilities and now has annual domestic capacity to produce more than 12 billion finished doses of essential medicines, it said in a statement.
Shares in Hikma were up 0.1% at 2,028.00 pence each in London on Monday morning.
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