AbbVie announces $380m investment in North Chicago API facilities
AbbVieAbbVie(US:ABBV) Yahoo Finance·2026-02-24 08:48

Investment Plans - AbbVie has announced a $380 million investment to build two new active pharmaceutical ingredient (API) manufacturing facilities in North Chicago, Illinois, integrating advanced manufacturing technologies and AI for obesity and next-generation neuroscience medications [1][2] - Construction is set to begin in spring 2026, with both facilities expected to be operational by 2029 [1] Employment and Capacity Expansion - The company plans to hire 300 employees in North Chicago, including manufacturing operators, scientists, lab technicians, and engineers to support the expanded operations [2] - AbbVie has been increasing its API manufacturing capacity in the US over the past six months [2] Relocation of Production - In September 2025, AbbVie initiated the first phase of this investment by breaking ground on a chemical synthesis facility aimed at relocating API production for certain neuroscience, immunology, and oncology products from Europe and Asia back to the US [3] Additional Investments - AbbVie has also revealed plans for a device manufacturing facility acquisition in Arizona and significant investments at its Massachusetts site, with further investments in other US states expected to be announced in 2026 [4] - The chairman and CEO stated that this milestone reflects progress towards a $100 billion commitment to US R&D and capital investments over the next decade [4] Strategic Acquisitions - In August 2025, AbbVie signed an agreement to acquire Gilgamesh Pharmaceuticals' lead investigational candidate, bretisilocin, for up to $1.2 billion, which includes upfront payments and development milestones [5]