Amgen (AMGN) Stock Invests $300M to Expand Puerto Rico Manufacturing

TLDR

• Amgen announced an additional $300 million investment to expand its biologics manufacturing facility in Juncos, Puerto Rico.
• The facility distributes medicines to more than 60 countries and will see expanded production capacity.
• The move adds to over $650 million already announced for Puerto Rico in the past year.
• Amgen’s total U.S. manufacturing commitments over the past year exceed $3.65 billion across Puerto Rico, Ohio, California, and North Carolina.
• The investment comes as drugmakers respond to President Trump’s executive order threatening 100% tariffs on imported branded medicines.

Amgen (AMGN) fell 1.54% on Monday as the company announced a fresh $300 million investment to expand its biologics manufacturing facility in Juncos, Puerto Rico.

Amgen Inc., AMGN

The expansion is aimed at boosting production capacity and advancing next-generation manufacturing technologies at the site, which has been in operation since 1992.

The Juncos facility currently distributes biologic medicines to more than 60 countries. The investment will strengthen existing manufacturing roles there and create hundreds of construction jobs.

CEO Robert Bradway said the expansion reflects Amgen’s “continued commitment to American manufacturing” and is designed to protect domestic supply chains and patient access to medicines.

Puerto Rico Governor Jenniffer González Colón welcomed the news, saying the investment confirms that policies supporting the island’s biopharmaceutical sector are working.

The $300 million adds to $650 million Amgen had already announced for Puerto Rico over the past year, which was expected to create around 750 jobs.

A Bigger U.S. Manufacturing Push

This latest commitment is part of a much larger domestic investment strategy. Over the past year, Amgen has announced $900 million in Ohio, $600 million for a science and innovation center in California, and more than $1.5 billion in North Carolina.

Combined with the new Puerto Rico announcement, Amgen’s recent U.S. manufacturing commitments total more than $3.65 billion.

Since the Tax Cuts and Jobs Act of 2017, Amgen says it has invested more than $40 billion in manufacturing and research and development.

Tariff Pressure in the Background

The investment comes as global drugmakers face rising pressure from the Trump administration over pharmaceutical imports.

President Trump signed an executive order in April imposing 100% tariffs on branded pharmaceuticals imported into the U.S., unless manufacturers agreed to government drug-pricing deals or committed to domestic production.

Amgen’s expanded U.S. footprint positions the company to navigate that pressure, though the company framed the Puerto Rico move as part of a long-term supply chain strategy.

Puerto Rico, a U.S. territory, has been a hub for pharmaceutical manufacturing for over 60 years and is home to a number of major drug company facilities.

The Juncos site has been part of Amgen’s network since 1992 and plays a central role in the company’s global biologics supply.

Amgen has not provided a specific timeline for the completion of the latest Puerto Rico expansion.

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