SOUTH SAN FRANCISCO (dpa-AFX) - Biotechnology company Genentech, a subsidiary of Roche Holding AG (RHHBY.PK), Tuesday announced an expansion of its initial investment in a new Holly Springs, North Carolina manufacturing facility, raising the total investment to approximately $2 billion.
The expanded investment is estimated to create an additional 100 new jobs to the North Carolina economy, with the project supporting more than 500 high-wage manufacturing jobs and 1,500 construction jobs.
Additionally, the investment will increase production volume and scale manufacturing capacity within the facility, which is scheduled to be operational by 2029.
The strategic move also highlights the company's long-term commitment to the United States by generating job opportunities, strengthening local partnerships, and ensuring a resilient supply of medicines.
Currently, Roche's stock is trading at $54.56, up 0.59 percent on the OTC Markets.
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