United Parcel Service, Inc. (UPS) Eyes Medicines and Pharmaceutical Opportunities with $48M Investment United Parcel Service Inc. (NYSE:UPS) is one of the best dividend stocks yielding at least 5% to buy according to hedge funds.
Copyright: lightpoet / 123RF Stock Photo On June 22, CNBC reported that United Parcel Service Inc. (NYSE:UPS) is poised to invest $48 million in 27 temperature-controlled facilities
The investment comes as the logistics powerhouse seeks to capitalize on a boom in healthcare logistics. Consequently, the investments will allow the company to handle products that require strict temperature controls during transit. There is a growing demand for medicines that require strict temperature ranges of 15 to 25 degrees Celsius and frozen storage.
By upgrading the 27 temperature-controlled facilities, UPS strengthens its cold chain network and therefore stays ahead of a boom in medicines and pharmaceutical logistics across the Americas, Europe, and Asia. The market for temperature-sensitive biologics is poised to grow at a 8.3% compound annual growth rate through 2033, reaching $39.1 billion. United Parcel Service, Inc. (NYSE:UPS) is a global package delivery and supply chain management company.