Bristol-Myers Squibb will build a US$1 billion pharmaceutical manufacturing facility in Houston.
The project will create nearly 500 jobs.
This expansion strengthens domestic manufacturing capacity and establishes Houston as a biotechnology hub.
The company’s stock is currently trading at US$57.31.
Investors are monitoring the project as earnings are projected to decline over the next few years.
Future updates will clarify project timing and the specific products manufactured at the site.