Johnson & Johnson CEO Credits Trump Tax Cuts For Giant $55 Billion American Investment Drive [WATCH]

Healthcare giant Johnson & Johnson is expanding its footprint in the United States with a sweeping $55 billion investment initiative, a move company leadership says was helped by tax policies enacted under President Donald Trump’s administration and a favorable business climate for domestic manufacturing.

Speaking Tuesday on FOX Business’ “Mornings with Maria,” Johnson & Johnson Chairman and CEO Joaquin Duato said the company’s decision reflects confidence in the American workforce, investment environment, and tax structure.

“We have the best talent, we have the best investment environment and, very importantly, we have now the tax policy enacted with this administration that has enabled us to be competitive,” Duato said.

Here’s What They’re Not Telling You About Your Retirement

The CEO argued that previous tax conditions placed American-based companies at a disadvantage compared to competitors headquartered overseas.

“We’re playing with a hand tied to our back compared to companies that were domiciled outside of the U.S.,” he said.

Duato added that recent policy changes have improved the company’s ability to grow domestically.

“Now we can create high-skilled jobs, we can invest in America, and we can be competitive,” he said.

This Could Be the Most Important Video Gun Owners Watch All Year

The investment package includes a more than $1 billion commitment to a new U.S. Vision manufacturing facility in Jacksonville, Florida.

The Florida project is part of a broader effort by the company to increase domestic production across multiple areas of its business.

According to Duato, Johnson & Johnson’s long-term objective is to manufacture all of its medicines, medical technologies, and related products in the United States.

He described the investment effort as a “show of confidence in American manufacturing.”

The company has undergone significant changes in recent years and is now concentrating its efforts on pharmaceuticals and medical technology following the separation of its consumer health business.

Discussing the company’s future direction, Duato emphasized a focus on research, innovation and the development of new treatments.

“We are now focused on science and innovation. So what is our goal now? Our goal is to continue to deliver sustained growth through patient breakthroughs,” he said.

Among the company’s recent developments is Icotyde, a newly approved once-daily oral treatment for psoriasis and psoriatic arthritis.

Duato said the medication was designed to deliver efficacy and safety that can compete with injectable biologic treatments.

He predicted the medicine will “transform… autoimmune diseases.”

Beyond pharmaceuticals, Johnson & Johnson is also pursuing advancements in medical technology. The company is currently seeking approval for its first robotic surgical system, which is intended to assist surgeons and improve surgical outcomes.

The investment announcement comes as manufacturers increasingly weigh where to locate production facilities and research operations.

Johnson & Johnson’s decision to expand heavily within the United States adds to a growing list of large-scale domestic investments aimed at increasing production capacity and creating high-skilled jobs.

Duato highlighted the company’s diversified portfolio as a key reason for its confidence in future growth.

“We are not a one-trick pony company. We’re a company with a stable of blockbusters,” he said.

The CEO noted that Johnson & Johnson currently has dozens of major products generating significant revenue.

“We have 28 platforms at Johnson & Johnson of more than $1 billion, so that gives us the confidence to be so bold to say we have line of sight to double-digit growth for Johnson & Johnson by the end of the decade, and that is remarkable for a company which is more than $100 billion.”

The $55 billion investment plan, including the Jacksonville manufacturing facility, represents one of the company’s largest commitments to domestic operations and highlights its strategy of expanding production, research, and technology development within the United States.

The Hidden Facts Behind Your Healthcare Costs | The Rob Maness Show EP 675

The opinions expressed by contributors and/or content partners are their own and do not necessarily reflect the views of LifeZette. Contact us for guidelines on submitting your own commentary.