Swiss drugmaker Novartis said on Thursday it plans to spend $23 billion to build and expand 10 facilities in the U.S., as it grapples with renewed threats of drug import duties from the Trump administration.

Swiss pharmaceutical giant Novartis said it plans to invest $23 billion in the construction and expansion of U.S. facilities, as drugmakers brace for potential tariffs from the Trump administration.

Swiss pharmaceutical firm Novartis AG plans to invest $23 billion in the US over the next five years to ensure its key drugs for Americans are made in the country, after President Donald Trump promised to impose tariffs on global drugmakers.