Bayer to Invest $2.2 Billion in New U.S. Pharmaceutical Site

On Friday, Bayer's pharmaceuticals unit unveiled plans to invest $2.2 billion in a new manufacturing site in New Albany, Ohio, part of a push to boost the company's U.S. revenue.

Bayer expects to create about 600 high-paying jobs in New Albany, with another 1,500 jobs resulting temporarily from construction.

The prescription drug unit of Germany's Bayer has increased ⁠the U.S. share of global revenue to 35 percent from 20 percent in 2018. It aims to double U.S. sales by the end of the decade, said Sebastian Guth, chief operating officer for pharmaceuticals.

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