Amid recession worries and tumbling markets; President Trump’s tariffs are still helping the U.S. economy achieve key wins. Many huge corporations have announced plans to invest billions in U.S. manufacturing. Trump scored a major victory when Taiwan Semiconductor Manufacturing (NYSE: TSM) promised to invest $100 billion in U.S. facilities. Chip behemoth NVIDIA (NASDAQ: NVDA) recently made a similar announcement.

It plans to produce “half a trillion dollars of AI infrastructure in the United States” over the next four years.

However, outside of semiconductors, pharmaceutical companies are stepping up to make huge investments in the United States. Together, three pharma giants plan to invest over $100 billion in the United States over the coming years.

Roche: Swiss Giant Looks to Sidestep 31% Tariff Threat

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Roche (OTCMKTS: RHHBY), based in Basel, Switzerland, is the latest pharma company to announce a big investment in the United States. U.S. investors might not be as familiar with Roche, but the company’s presence on the world stage is undeniable. By market capitalization, Roche is the fifth-largest pharmaceutical stock in the world, using data as of the Apr. 24 close. Additionally, in 2024, Roche had the second-highest total revenue of any pharmaceutical stock.

On Apr. 21, Roche announced that it would invest $50 billion in the United States over the next five years. Roche expects these investments to create 12,000 new jobs in the United States. Expanding manufacturing in the United States is a key objective. Roche states that when its new manufacturing capacity is ready, it will export more medicines from the United States than it imports.

The decision likely stemmed from the threat of the government levying 31% tariffs on Swiss imports. Around 46% of Roche’s total revenues came from the United States in 2024.

Novartis Aims to Stamp 100% of Core Drugs with “Made in America” Label

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Another huge Swiss player that is increasing investment in the United States is Novartis (NYSE: NVS). The firm ranks as the seventh largest pharma stock in the world as of the Apr. 24 close. Its total revenue in 2024 ranked in the same position. On Apr. 10, Novartis announced that it would invest $23 billion over the next five years. This will go toward expanding its U.S.-based manufacturing and its R&D footprint.

The company expects its investment in total U.S. operations to reach almost $50 billion over the next five years. The company will build seven brand-new facilities and create 4,000 jobs in the United States.

To lessen the impact of U.S. tariffs, the company announced it will produce 100% of its key medicines in the United States after its new manufacturing sites start operating. This is very significant, considering that the United States is the business’s most important region. Nearly 41% of its total revenue came from America in 2024.

JNJ: Home-Grown Behemoth Doubles Down on the World’s Largest Economy

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Last up is the company possibly most synonymous with the American big-pharma industry, Johnson & Johnson (NYSE: JNJ). Overall, JNJ ranks as the second-largest pharma stock in the world by market cap as of the Apr. 24 close. Fortifying its prominence is the fact that it generated by far the most revenue of any pharma company in the world in 2024. It’s nearly $89 billion in sales eclipsed the next closest company, Roche, by $20 billion. 

On Mar. 21, JNJ said it would invest more than $55 billion in the United States over the next four years. This is significant, representing a 25% increase in U.S. investment compared to the previous four-year period.

The company will build three new manufacturing plants and expand its R&D capabilities. JNJ expects its investment into a facility in North Carolina to support 5,000 jobs during construction. Jeff Jonas, portfolio manager at Gabelli Funds, says that the company is angling to gain tariff exemption.

Despite being a home-grown company, JNJ has significant operations outside the United States. President Trump has threatened 25% tariffs on imported pharmaceuticals. However, Jonas believes that tariffs are unlikely to impact JNJ’s medicine business, which accounted for 64% of revenue in 2024. 

They could impact its MedTech segment, which made up the rest of the sales. In 2024, 57% of total revenue came from the United States.

Overall, the fact that these companies are taking preemptive action to mitigate potential tariff impacts is a positive sign. They are looking to protect their most vital source of revenue from a single country: America.

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