Why Bristol Myers Squibb is investing $2.3bn in Texas. August 12, 2026 Bristol Myers Squibb is investing US$2.3bn in a new manufacturing facility in Houston, Texas, aiming to reinforce the US's pharmaceutical supply chain Bristol Myers Squibb (BMS) says it will invest US$2.3bn into a new manufacturing hub in Houston, Texas to boost its domestic pharmaceutical supply chain. The plan is part of the company's five year commitment to invest US$40bn in the US across research and development, domestic manufacturing and technology. Christopher Boerner, CEO of BMS, says: "As part of our US$40bn commitment to the United States, we're building the domestic manufacturing capabilities needed to deliver the next generation of medicines and support future scientific breakthroughs." What will the investment create? BMS says its new hub will allow the company to manufacture multiple types of medicine including small molecules, biologics and antibody drug conjugates. The campus will be located at Generation Park, spanning across 600,000 square feet, and aims to initially create around 500 skilled jobs. Building this new facility will allow the company to manufacture multiple types of medicine including small molecules, biologics and antibody drug conjugates. Initial plans are expected to bring construction between 2027 and 2030, during which BMS is expecting to create around 2,000 construction and other indirect jobs. BMS currently has seven manufacturing and commercial manufacturing facilities across the world. US pharmaceutical supply chain. According to research from the US Pharmacopeia in 2024, more than 50% of active pharmaceutical ingredient (API) production comes from Europe and India, while the US accounts for just 12%. The new BMS facility is expected to lower reliance on overseas production and develop the US supply chain. US Secretary of Commerce Howard Lutnick says: "Bristol Myers Squibb's US$2.3bn investment in Texas will create hundreds of high-paying jobs and strengthen our pharmaceutical supply chains, ensuring America is never reliant on foreign sources for critical medicines." In January 2026, Abbvie committed US$100bn towards domestic research, development and capital investments over a 10 year period. This funding has already seen some allocations, including across two API plants in Illinois, and another US$1.4bn for a manufacturing campus focusing on immunology, neuroscience and oncology products in North Carolina. Abbvie has also acquired a manufacturing facility in Arizona, where it designated US$175m to expand capacity for drug delivery devices. Company Portals

AbbVie has announced a $10.9 billion acquisition of Apogee Therapeutics in June 2026, aiming to strengthen its drug pipeline. The biopharmaceutical company reported FY 2025 revenue of nearly $61.2 billion, up roughly 8.6% year-on-year. Net income reached close to $4.2 billion, reflecting a net margin of approximately 6.9%, down from 7.6% the previous year. Free cash flow for the period was nearly $17.8 billion. CVS Health reported FY 2025 revenue of approximately $402.1 billion, representing growth of nearly 7.8%. The integrated healthcare provider serves around 37 million medical members and manages 1.9 billion prescriptions annually through its Health Services segment. Net income was close to $1.8 billion, yielding a net margin of roughly 0.4%, down from 1.2% in FY 2024.

AbbVie has announced a $9.5 billion senior notes offering across multiple tranches with maturities ranging from 2028 to 2066. The offering includes both floating and fixed rate notes, with the largest tranche being $1.5 billion in 6.00% senior notes due 2066. Morgan Stanley, BofA Securities, J.P. Morgan Securities, and SG Americas Securities are serving as joint book-running managers for the transaction. The proceeds will be used for refinancing existing debt, funding acquisitions, and general corporate purposes. The transaction is being conducted under an effective shelf registration statement and the notes are expected to be listed on the New York Stock Exchange. AbbVie confirmed there have been no material adverse changes in its financial position since year-end 2025.