Bayer to invest $2.2 billion in new Ohio manufacturing site

Bayer, the German pharmaceutical company, plans to invest $2.2 billion in a new manufacturing plant in New Albany, Ohio, according to an announcement made on Friday. This significant investment is part of their strategy to boost their revenue in the United States. The new facility is expected to generate around 600 permanent jobs, along with 1,500 temporary positions during the construction period.

Sebastian Guth, the chief operating officer for Bayer's pharmaceuticals unit, shared that the company's US share of global revenue has risen from 20% in 2018 to 35%. Bayer aims to double its sales in the US by the end of the decade. The expansion will be backed by key products such as Kerendia for chronic kidney disease treatment, Nubeqa for prostate cancer, and asundexian, a potential stroke prevention drug.

The announcement comes amid persistently higher prescription drug prices in the US compared to other developed nations. President Donald Trump has urged pharmaceutical companies to lower their prices, while also advocating for other developed countries to raise theirs. This announcement was produced with the aid of AI technology and reviewed by an editor. For further information, readers can refer to the article's Terms and Conditions.