DURHAM, N.C. — Biopharmaceutical company AbbVie (NYSE: ABBV) has announced plans for a new pharmaceutical manufacturing campus located in Durham, according to North Carolina Gov. Josh Stein.
AbbVie will invest $1.4 billion in the project over four years, marking the company’s largest capital commitment for a single campus to date and its first investment in the Tarheel State. Last year, AbbVie unveiled plans for a $195 million expansion its manufacturing plan in its hometown of North Chicago. Both projects are part of AbbVie’s $100 billion commitment to grow its U.S. research-and-development and capital investments over the next decade.
Upon completion, the Durham campus will total 185 acres and will include drug product manufacturing facilities, next-generation laboratories, a warehouse, administrative offices and employee wellness facilities. AbbVie plans to produce small volume parenteral (i.e. prefilled syringes and vials for injection or infusion) drug products at the facility.
Construction of the Durham campus is scheduled to begin this year and be completed by the end of 2028. AbbVie expects the construction process to support 2,000 temporary jobs.
Several state and local entities, including The North Carolina Department of Commerce and the Economic Development Partnership of North Carolina, have collaborated with AbbVie on the project.
AbbVie projects that the development will create 734 new permanent jobs, and average annual wages at the facility will be over $118,000.
The site is close to both Research Triangle Park and Duke University. North Carolina is currently home to more than 860 life sciences companies, as reported by the Economic Development Partnership of North Carolina.
AbbVie currently employs roughly 57,000 people across 70 countries. The company’s stock price closed on Wednesday, April 22 at $200.50 per share, up from $177.05 a year ago, a 13.2 percent increase.
— Hayden Spiess