Genentech breaks ground on $700 million manufacturing site in North Carolina

HOLLY SPRINGS, N.C. - Genentech, a member of the Roche Group (SIX:RO, ROG; OTCQX:RHHBY), broke ground Monday on a new manufacturing facility in Holly Springs, North Carolina, marking the company’s first manufacturing presence on the East Coast. According to InvestingPro data, Roche maintains a strong financial position with more cash than debt on its balance sheet and liquid assets exceeding short-term obligations.

The 700,000-square-foot facility represents an investment of more than $700 million and will focus on producing next-generation metabolic medicines, including treatments for obesity. The project is part of a larger $50 billion commitment to U.S. manufacturing, infrastructure and research and development. With a current market capitalization of $1.43 billion and an overall Financial Health score rated as "FAIR" by InvestingPro, Roche appears well-positioned to execute this significant investment. Subscribers to InvestingPro can access 8 additional key insights about Roche’s financial position and future prospects.

The facility is expected to create more than 400 permanent manufacturing jobs when operational and over 1,500 construction jobs during development. According to the company, the site should be completed and operational by 2029.

Federal, state and local officials attended the groundbreaking ceremony, including U.S. Rep. Deborah Ross, North Carolina Gov. Josh Stein, and Holly Springs Mayor Sean Mayefskie.

"With this step, we are taking action to deliver more life-changing medicines to patients faster, contribute to the local economy, and bolster manufacturing and innovation in the U.S.," said Genentech CEO Ashley Magargee in a statement at the event.

The company selected Holly Springs for its skilled workforce, academic institutions, and proximity to other life science companies in the Raleigh-Durham area. The 100-acre site includes space for potential future expansion.

The facility will incorporate modern biomanufacturing technologies along with advanced automation and digital capabilities, according to the press release statement. Genentech indicated the design aims to increase production capacity while enhancing supply chain resilience.

Founded nearly 50 years ago, Genentech discovers, develops, manufactures and commercializes medicines for patients with serious medical conditions. The company maintains its headquarters in South San Francisco, California. For investors seeking deeper insights, InvestingPro offers comprehensive analysis including Fair Value estimates, financial health metrics, and detailed Pro Research Reports that transform complex Wall Street data into actionable intelligence.

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