Money is the best medicine, Bayer to invest $2.2 billion in new Ohio manufacturing site

Bayer announced Friday that its pharmaceuticals unit will invest $2.2 billion in a new manufacturing facility in New Albany, Ohio, as part of efforts to increase its US revenue.

The German company said the project will create approximately 600 permanent positions in New Albany, with an additional 1,500 temporary jobs during the construction phase.

Sebastian Guth, chief operating officer for pharmaceuticals at Bayer, said the prescription drug unit has grown its US share of global revenue to 35% from 20% in 2018. The company aims to double US sales by the end of the decade.

The expansion will be supported by several key products, including Kerendia for chronic kidney disease treatment, Nubeqa for prostate cancer, and asundexian, a drug candidate designed to prevent strokes.

The announcement comes as prescription medicine prices in the US remain substantially higher than in other developed nations. President Donald Trump has called on pharmaceutical companies to reduce their prices while also urging other developed countries to raise theirs.