
President Donald Trump has called on US industries to put America first, and the biopharmaceutical sector is answering that call with major actions to demonstrate its commitment to American patients and workers.
According to a blog posting by trade group Pharmaceutical Research and Manufacturers of America, PhRMA member companies are delivering $500 billion in new USA-based manufacturing and infrastructure investment, injecting an estimated $1.2 trillion into the economy. For every $1 invested by the industry, another $1.60 is spent in other areas of the economy, creating a ripple effect.
These investments will create more than 100,000 jobs - including 25,000 biopharma facility jobs - seizing on President Trump’s tax law changes and regulatory streamlining that make it more attractive to invest in the USA.
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