Amgen invests $650M to expand Puerto Rico biologics plant

Amgen said it will invest $650 million to expand its biologics manufacturing facility in Juncos, Puerto Rico, a move that will add nearly 750 jobs including construction and skilled manufacturing roles.

The project will increase drug production capacity and integrate advanced technologies across operations, according to the company. Amgen said the investment reflects its commitment to strengthening U.S. biomanufacturing and global supply chain resilience.

Puerto Rico Governor Jenniffer González Colón said in the announcement that the investment strengthens U.S. supply chain security while advancing the island’s role as a biopharmaceutical hub. Sebastián Negrón Reichard, Puerto Rico’s Secretary of Economic Development and Commerce, added that the expansion highlights the region’s skilled talent and long-standing expertise in the biopharma sector.

“By growing our capacity to deliver innovative medicines with cutting-edge technology in our manufacturing plants, we will not only better serve patients but also create high-quality jobs that reinforce America’s leadership in biotechnology,” Amgen CEO Robert Bradway said in a statement.

Amgen said the expansion builds on more than $40 billion invested in U.S. manufacturing and R&D since 2017, including recent projects in California, Ohio, and North Carolina. 

However, Jefferies analysts in a report earlier this year found that Amgen has significant “foreign exposure” given its manufacturing operations outside the U.S. and tax benefits from overseas operations. Their report showed that Amgen has manufacturing operations in Ireland and Singapore, which provide a benefit to their effective tax rate of -6%.