By Jared S. Hopkins
Drugmaker AbbVie plans to invest more than $10 billion in domestic manufacturing and other capabilities over the next decade, including building four new plants.
The North Chicago, Ill.-based pharmaceutical company, whose products include immunology treatments Skyrizi and Humira, as well as anti-wrinkle drug Botox, is the latest to outline plans to bolster its U.S. presence as the threat of tariffs looms over the industry.
Chief Executive Rob Michael told analysts Friday the company is working to mitigate the impact of any tariffs through possible supply chain actions, cost efficiencies, and expanding domestic manufacturing beyond 11 U.S. sites. AbbVie doesn't plan to pass price increases onto customers, he said.
AbbVie estimated a $30 million impact due to existing tariffs, which the company is absorbing, AbbVie said.
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(END) Dow Jones Newswires
April 25, 2025 12:02 ET (16:02 GMT)
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