Bristol Myers Squibb will spend $40 billion in the US over the next five years, CEO Christopher Boerner wrote in an opinion piece published by Stat News.
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Boerner said the money will be spread across research and development, technology and domestic manufacturing, as US drugmakers prepare to deal with President Donald Trump's tariffs.
Bristol Myers joins companies like Eli Lilly, Johnson & Johnson and Merck, who have recently announced additional investments to boost domestic production amid the tariff threat.
It is unclear whether the $40 billion investment plan is new or previously announced.
Bristol Myers did not immediately respond to Reuters' request for comment on Monday.