Bristol Myers Squibb plans to invest $40 billion in the U.S. over the next five years to strengthen its research and manufacturing capabilities, reported Reuters.

The investment will include R&D, technology advancements, and enhancing U.S. manufacturing capacity as part of an effort to gain better control over complex supply chains and to align manufacturing with R&D activities in the U.S.

The investment plan follows the company’s recent agreement to acquire its cell therapy partner 2seventy bio for $286 million, as well as the plan to close its Libertyville Viral Vector production facility.

Several pharmaceutical companies have recently announced plans to increase investments in the U.S. in anticipation of potential tariffs on the industry. 

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