LEVERKUSEN (dpa-AFX) - Bayer (BYR.L, BAY.MI, BAYN.DE) announced that it plans to invest $2.2 billion in a new pharmaceutical manufacturing facility in New Albany, Ohio. The company expects to create approximately 600 high-value jobs in the area, with an additional 1,500 construction jobs during facility development.
BAYN.DE closed Friday's regular trading at 44.94 euros, down 0.46 euros or 1.01%.
The investment builds on more than $7 billion Bayer has spent on U.S. pharmaceutical R&D and manufacturing over the past five years, and is a central part of its long-term growth strategy.
The flexible, modular campus will combine drug substance and drug product manufacturing using advanced digital and automation technologies. The facility will initially support Bayer's oncology, cardiovascular, and renal portfolios.
The first module, for drug substance manufacturing, should be operational in 2031, with a drug product module following in 2034, the company noted.
The company specified that the new site will complement Bayer's U.S. pharmaceuticals headquarters in Whippany, New Jersey, and its other facilities in Pittsburgh, Pennsylvania; Berkeley, California; Cambridge, Massachusetts; Research Triangle Park, North Carolina; and San Diego, California.
The New Albany facility will form part of a new U.S.-based collaboration ecosystem designed to connect cutting-edge academic innovation with advanced manufacturing expertise. This ecosystem will support future-ready pharmaceutical production.
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