AbbVie to invest $195 million in North Chicago manufacturing expansion

NORTH CHICAGO, Ill. - AbbVie (NYSE:ABBV), a $349 billion market cap pharmaceutical giant with robust financial health according to InvestingPro analysis, announced Tuesday a $195 million investment to expand its active pharmaceutical ingredient (API) manufacturing capabilities at its North Chicago, Illinois plant.

The expansion, which will enhance the company’s chemical synthesis capabilities for producing components used in neuroscience, immunology and oncology medicines, is part of AbbVie’s previously announced plan to invest more than $10 billion in U.S. capital projects over the next decade. The company, which generated $58.3 billion in revenue over the last twelve months, has maintained consistent growth with a 6% year-over-year revenue increase.

Construction of the new facility will begin in fall 2025 and is expected to be fully operational by 2027, according to the company’s press release statement.

"Over the next decade, AbbVie will expand production of API, drug product, peptides and medical devices in the U.S. to support future medical breakthroughs," said Robert A. Michael, chairman and chief executive officer of AbbVie.

The North Chicago expansion adds to AbbVie’s existing U.S. manufacturing network, which currently includes 11 manufacturing sites supporting more than 6,000 American jobs.

Illinois Governor JB Pritzker noted that the investment "bolsters our world-class biomanufacturing ecosystem and creates jobs while it innovates next generation medicines."

AbbVie currently employs approximately 11,000 people in Illinois, where the company is headquartered. The expansion represents a continuation of the pharmaceutical company’s commitment to domestic production capabilities for its current and future medication portfolio.

In other recent news, AbbVie reported its second-quarter 2025 earnings, surpassing expectations with an earnings per share (EPS) of $2.97, slightly above the forecast of $2.96. The company also exceeded revenue projections, posting $15.4 billion compared to the anticipated $14.99 billion. Following these results, AbbVie raised its full-year guidance despite challenges from its Humira product. Piper Sandler has assumed coverage of AbbVie with an Overweight rating, setting a price target of $231.00. The firm highlighted AbbVie’s strong position regarding loss of exclusivity exposure, with no major patent cliffs expected until the end of the decade. Meanwhile, Bernstein SocGen Group reiterated its Market Perform rating and a $203.00 price target on AbbVie. These developments reflect confidence in AbbVie’s performance and strategic position in the market.

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