BeOne Medicines (NASDAQ:ONC) has announced a further $300 million investment to expand its manufacturing and research operations in Hopewell, New Jersey, increasing total spending at the Princeton West Innovation Campus to more than $1 billion.
The project will significantly increase the site’s production capabilities while supporting future cancer drug development and creating new jobs.
Expansion will increase manufacturing capacity
The investment includes the construction of a new three-storey, 145,000-square-foot facility adjacent to the existing campus.
Once completed, the Hopewell site will cover approximately 545,000 square feet and is expected to become fully operational by 2029.
The expansion is projected to create around 120 full-time positions, increasing the total workforce at the campus to approximately 240 employees by the end of that year.
Site to become fully integrated production hub
The new building will introduce small molecule drug manufacturing and packaging capabilities alongside the biologics production already carried out at the facility.
As a result, the Hopewell campus will evolve into a fully integrated, multi-platform manufacturing centre capable of supporting a broader range of pharmaceutical products.
The campus originally opened in July 2024 following an initial investment of $800 million and occupies a 42-acre site with more than one million square feet available for future development.
Investment supports U.S. manufacturing strategy
Chief Financial Officer Aaron Rosenberg said, “Today’s announcement reflects BeOne’s commitment to strengthening U.S. manufacturing and expanding access to innovative medicines for patients with cancer. We appreciate the federal tax policies advanced by the President that encourage investment in biopharmaceutical production, alongside the Next New Jersey Manufacturing Program and the Governor’s efforts to support advanced manufacturing and high-quality job creation.”
Expansion to support oncology pipeline
According to BeOne Medicines, the additional manufacturing capacity will support the development and production of treatments targeting a wide range of cancers, including blood cancers, breast, lung, liver and gastrointestinal tumours.
The company is headquartered in Switzerland and employs more than 12,000 people across six continents, including over 2,000 employees in the United States.
During 2025, BeOne reported nearly $2 billion in direct economic impact in the U.S. and invested approximately $1 billion in domestic research and development.
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