American pharmaceutical giant Johnson & Johnson (JNJ) is boosting its U.S. investments by 25% to more than $55 billion over the next four years.
The New Jersey-based company said it plans to grow its manufacturing footprint domestically within the U.S. as a threat of drug import tariffs imposed by the administration of U.S. President Donald Trump looms over the pharmaceutical industry.
Specifically, Johnson & Johnson said it plans to build four new plants in the U.S. as part of its enhanced investment, one of which will be located in Wilson, North Carolina. The company did not say where it plans to build the other manufacturing plants. The North Carolina site is expected to see an investment of more than $2 billion and create 5,000 jobs during construction, and more than 500 positions in the state.
Taking Tariffs Seriously
Johnson & Johnson has said that it takes the threat of import tariffs seriously. And it is not alone among U.S.-based companies in announcing increased American investments. Other companies, such as pharmaceutical company Eli Lilly (LLY) and consumer electronics giant Apple (AAPL), have also announced multi-billion-dollar investments in domestic U.S. production.
Johnson & Johnson rival Eli Lilly has committed to invest $27 billion in U.S. plants over the next five years to ease the impact from a potential 25% tariff on pharmaceutical imports. The proposed trade duties are expected to hit pharma companies such as Johnson & Johnson and Eli Lilly hard because they have sprawling operations overseas.
Apple has announced plans to invest $500 billion in the U.S. over the next four years, although some of that money includes existing commitments. Johnson & Johnson is the world’s largest prescription drug maker by revenue. JNJ stock has risen 14% so far in 2025.
Is JNJ Stock a Buy?
The stock of Johnson & Johnson has a consensus Moderate Buy rating among 13 Wall Street analysts. That rating is based on five Buy and eight Hold recommendations assigned in the past three months. The average JNJ price target of $168.27 implies 2.84% upside from current levels.
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