AbbVie Inc. (ABBV) Starts Building $70 Million Expansion of Its AbbVie Bioresearch Centre in Worcester, Massachusetts

Core Insights - AbbVie Inc. has garnered significant hedge fund interest and is trending on Reddit, earning a place among the 10 Best Non-Tech Stocks to Buy According to Reddit [1] Group 1: Expansion and Investment - AbbVie Inc. has initiated a $70 million expansion of its AbbVie Bioresearch Centre in Worcester, Massachusetts, as part of a broader $10 billion U.S. capital expenditure strategy aimed at increasing biologics manufacturing capacity [2] - The expansion project includes a new three-story structure that will house labs, warehouses, and offices, facilitating the transfer of some oncology product manufacturing from Europe to the U.S. [2] - This expansion is expected to boost employment and strengthen AbbVie's position in the immunology and oncology biologics sectors [3] Group 2: Product Performance - AbbVie Inc. is experiencing growth driven by its leading immunology medications, Rinvoq and Skyrizi, which are key products in its portfolio [4]