Ortho-Clinical Diagnostics already employs 350 people there, making 100 million diagnostic kits every year.
The new production line will make 21 million blood test cassettes a year, which will be shipped across the globe.
The expansion comes as the Welsh government is expected to reveal record levels of inward investment into Wales.
There were 79 inward investment projects in Wales in 2013-14, signalling the best figures for a quarter of a century.
But First Minister Carwyn Jones will say on Monday that figures for 2014-15 beat last year.
Commenting on the Ortho-Clinical Diagnostics expansion, Mr Jones said: "We are attracting some of the most prestigious companies from across the world to Wales, creating jobs and growth in our key markets."
An American life sciences company is investing another £4.6m in Wales by extending its production at  Pencoed, Bridgend.