CSL Limited (OTCQX:CSLLY) (OTCQX:CMXHF), an Australian biotech focused on developing vaccines and blood-derived therapies, on Tuesday announced plans to invest approximately $1.5B in the U.S. over the next five years.
The Melbourne-based company said its investments would boost U.S. production of plasma-derived therapies, strengthen the country’s pharmaceutical supply chain, and create “hundreds of high-quality American jobs.”
“The U.S. is the world’s leading source for plasma, the main component of plasma-derived therapies,” CEO Paul McKenzie added.
CSL (OTCQX:CSLLY), which already operates two U.S. manufacturing plants in Illinois and North Carolina, didn’t disclose the new sites it’s planning to build, noting that its board hasn’t yet cleared the investments.
The Melbourne-based biotech is the latest drugmaker to boost its U.S. manufacturing footprint amid the Trump administration’s threats to impose tariffs on pharmaceuticals. The White House has already reached pricing agreements with several pharma giants, including Pfizer (PFE), to grant them exemptions from tariffs in exchange for additional U.S. investments.