AbbVie (ABBV) announced the start of construction of its new active pharmaceutical ingredient manufacturing plant in North Chicago, Illinois. This is a significant milestone in AbbVie’s ongoing efforts to expand its U.S. manufacturing network, capabilities and capacity. Active pharmaceutical ingredient manufacturing is a complex and multistep process that involves producing the active components responsible for medications’ therapeutic effects. When completed, AbbVie’s new North Chicago API facility will expand its chemical synthesis capabilities and enable AbbVie to bring API production for select products from Europe and Asia to the US to support domestic production of current and next generation neuroscience, immunology and oncology medicines. With a presence in all 50 states and Puerto Rico, AbbVie employs 28,000 employees in the U.S. The previously announced $195M investment in North Chicago will create new jobs and expand AbbVie’s existing U.S. manufacturing footprint, which supports more than 6,000 American jobs across 11 manufacturing sites. This investment also furthers AbbVie’s long-term commitment to Illinois, where it is headquartered and includes more than 11,000 employees who work to develop and manufacture innovative medicines for patients worldwide.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ABBV:
- AbbVie plans to launch ELAHERE in U.K. at list price equal to U.S.
- Video: Drugmakers, Paccar, Wayfair reacting to Trump tariff threats
- AbbVie submits NDA to FDA for tavapadon for treatment of Parkinson’s disease
- AbbVie’s Promising Phase 1 Study on ABBV-CLS-579: A Potential Game-Changer in Cancer Treatment
- Genmab upgraded to Buy at Guggenheim on royalty revenue upside potential