(RTTNews) - Johnson & Johnson (JNJ) announced an investment of more than $1 billion in Jacksonville, Florida to strengthen its Vision operations by scaling U.S.-based manufacturing, packaging and distribution capabilities. The company noted that the announcement is part of the previously announced $55 billion U.S. investment in manufacturing, research and development, and technology through early 2029.
The investment includes construction of a state-of-the-art distribution facility, alongside advanced manufacturing and packaging technologies to expand capacity and meet growing demand for the company's ACUVUE-brand contact lenses.
In pre-market trading on NYSE, Johnson & Johnson shares are down 0.72 percent to $239.12.
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