FDI
US Pharma Company Kicks Off EUR 150m German Expansion
AbbVie is building an ultra-modern research and office facility in the western German city of Ludwigshafen.
May 02, 2024
Ludwigshafen is the second-largest location for the pharmaceutical company, which has its headquarters in Chicago and is the world’s sixth largest biomedical firm by revenue. The new facility will be home to more than one third of AbbVie’s roughly one thousand researchers.
The EUR 150 million center will focus on developing new medications for conditions like Parkison’s Disease, Alzheimer’s and autoimmune ailments.
“As a location, Ludwigshafen is a hub of expertise,” said AbbVie Executive Vice President and Chief Operations Officer Azita Saleki-Gerhardt in a statement. “It will play a decisive role for Abbvie’s future profits and growth as well.”
AbbVie’s project comes on the heels of a billion-euro expansion in the town of Alzey last year. Alzey is also located in the regional state of Rhineland-Pfalz.
“These investments show how much significance Rhineland-Pfalz has as a pharma and biotechnology location,” said Rhineland-Pfalz State Premier Malu Dreyer. “The huge momentum generated by BioNTech’s invention of its first anti-corona vaccine has directed people’s attention to Rhineland-Pfalz. Now the task is to use this momentum and expand the biotechnology location.”
