Johnson & Johnson Increases U.S. Investment to More than $55 Billion Over the Next Four Years

Investment builds on almost 140-year legacy of improving and saving lives and supporting American jobs

Includes four planned new manufacturing facilities, with ground-breaking today in North Carolina on $2 billion+ facility

Total Company U.S. economic impact estimated to be more than $100 billion per year

NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--Today, Johnson & Johnson (NYSE: JNJ) (the “Company”), healthcare’s leading, most comprehensive innovation powerhouse, announced manufacturing, research and development, and technology investments of more than $55 billion in the United States over the next four years. This represents a 25% increase in investment compared to the previous four years and builds upon the Company’s already elevated U.S. investment levels resulting from the passage of the 2017 Tax Cuts & Jobs Act.

“Today’s announcements accelerate our nearly 140-year legacy as an American innovation engine tackling the world's toughest healthcare challenges,” said Joaquin Duato, Chairman and Chief Executive Officer, Johnson & Johnson. “Our increased U.S. investment begins with the ground-breaking of a high-tech facility in North Carolina that will not only add U.S.-based jobs but manufacture cutting edge medicines to treat patients in America and around the world."

$55 Billion Investment Supports American Innovation & Manufacturing

In addition to the facility in Wilson, North Carolina, the Company’s increased investment in the U.S. over the next four years includes:

• Three new advanced manufacturing facilities and the expansion of several existing sites across the Company’s Innovative Medicine and MedTech businesses that will create high-paying, high-technology jobs. The Company will share further information on these sites once available.
• Significant investments in extensive R&D infrastructure aimed at developing lifesaving and life-changing treatments in areas such as oncology, neuroscience, immunology, cardiovascular disease, and robotic surgery.
• Increased technology investments to help make drug discovery and development faster, support workforce training and enhance our business operations.
• With its increased investment over the next four years, the Company’s U.S. economic impact will build upon its already estimated more than $100 billion per year.¹

Groundbreaking Today in North Carolina Kickstarts U.S. Investment

The North Carolina investment creates jobs starting today in Wilson, North Carolina, where the Company is officially breaking ground on its new, 500,000 square foot, state-of-the-art biologics manufacturing facility.

The North Carolina facility will:

• Expand our capacity to manufacture next-generation medicines for people living with cancer, immune-mediated and neurological diseases in America and around the world.
• Support approximately 5,000 jobs during construction and create over 500 positions in North Carolina.
• Create a $3 billion impact across the state in the first 10 years of operations.

Johnson & Johnson has more manufacturing facilities in the U.S. than in any other country and is a leading investor in American innovation and R&D. With a focus on pharmaceuticals and medical technology, the Company stands alone in its ability to impact the full spectrum of disease. From cardiology to cancer, mental health to vision, cell therapies to robotics, the depth and breadth of Johnson & Johnson’s expertise and capabilities is unique. No company can match Johnson & Johnson’s ability to deliver best-in-class solutions for patients at every step of their journeys.

About Johnson & Johnson:

At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow, and profoundly impact health for humanity. Learn more at www.jnj.com.

Cautions Concerning Forward-Looking Statements

This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory actions; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson’s most recent Annual Report on Form 10-K, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in Johnson & Johnson’s subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

¹ Estimated impact as calculated by an external economic analysis.