Swiss pharmaceuticals powerhouse Roche says it plans to invest $50 billion in the United States over the next five years and create 12,000 jobs.

With threats of tariffs hanging over the pharmaceutical industry, Switzerland’s Roche announced on Tuesday that it will invest $50 billion in the United States over the next five years, expanding its existing facilities and building new manufacturing plants and research centers.

The United States is a key market for the pharmaceutical industry, representing more than half of the revenue of Roche's pharmaceutical division