AbbVie To Invest $195 Mln In Illinois API Manufacturing Expansion

(RTTNews) - AbbVie (ABBV) will invest $195 million to expand its North Chicago, Illinois manufacturing facility, boosting domestic production of active pharmaceutical ingredients or APIs.

This move is part of the company's broader plan to invest over $10 billion in the U.S. to advance innovation and enhance manufacturing capabilities. The new facility will increase AbbVie's chemical synthesis capacity to produce current and future neuroscience, immunology, and oncology treatments.

Construction starts in fall 2025, with operations expected by 2027. AbbVie's U.S. manufacturing network already supports more than 6,000 jobs across 11 sites, alongside thousands more at suppliers. The investment also reinforces AbbVie's long-standing presence in Illinois, where over 11,000 employees are based.

AbbVie CEO Robert A. Michael stated that the company plans to expand production of APIs, drug products, peptides, and medical devices in the U.S. over the next decade to drive future medical breakthroughs and maintain U.S. leadership in pharmaceutical innovation.

Illinois Governor JB Pritzker highlighted that AbbVie's expansion reflects the state's strong workforce, infrastructure, research institutions, and connectivity, strengthening Illinois' biomanufacturing sector while creating jobs and developing next-generation medicines.

Tuesday, ABBV closed unchanged at $198.64 and is trading after hours at $199, up 0.18% on the NYSE.