AbbVie Announces $195 Million Investment to Expand Active Pharmaceutical Ingredient Manufacturing in the U.S.
Rhea-AI Summary
AbbVie (NYSE:ABBV) has announced a $195 million investment to expand its active pharmaceutical ingredient (API) manufacturing facility in North Chicago, Illinois. This expansion is part of AbbVie's broader $10 billion U.S. investment commitment over the next decade.
Construction of the new API facility will begin in fall 2025 and is expected to be fully operational by 2027. The expansion will enhance AbbVie's chemical synthesis capabilities for neuroscience, immunology, and oncology medicines, while supporting over 6,000 American jobs across 11 manufacturing sites.
Positive
- Part of larger $10 billion capital investment commitment in the U.S.
- Expansion of domestic API manufacturing capabilities for critical medicines
- Creation of additional jobs supporting 6,000+ existing American manufacturing positions
- Strategic enhancement of U.S. pharmaceutical production capabilities
Negative
- Significant capital expenditure of $195 million
- Long implementation timeline with facility not operational until 2027
News Market Reaction
On the day this news was published, ABBV declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
- New
facility will further enhance AbbVie's active pharmaceutical ingredient (API) production capacity and capabilities in the$195 million U.S. - Expansion is part of AbbVie's previously announced commitment to invest more than
of capital in the$10 billion U.S. over the next decade - Construction will begin in fall 2025 with the site expected to be fully operational in 2027
- Furthers AbbVie's long-term commitment to the
U.S. expanding the company'sNorth Chicago workforce and critical manufacturing capabilities
Active pharmaceutical ingredient manufacturing is a complex and multi-step process that involves producing the active components responsible for the therapeutic effects of medications. The new North Chicago API facility will expand AbbVie's chemical synthesis capabilities in the
"Over the next decade, AbbVie will expand production of API, drug product, peptides and medical devices in the
Construction of the new North Chicago API facility will begin in fall 2025, with the site projected to be fully operational in 2027. The facility will expand AbbVie's existing
This investment furthers AbbVie's long-term commitment to
"AbbVie's decision to expand its manufacturing footprint in
About AbbVie
AbbVie's mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas including immunology, oncology, neuroscience and eye care – and products and services in our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on LinkedIn, Facebook, Instagram, X (formerly Twitter) and YouTube.
Media: Gabby Tarbert | Investors: Liz Shea (847) 935-2211 |
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SOURCE AbbVie
