AbbVie expands Oxford R&D facility as part of £120 million-plus investment

AbbVie Expands Oxford R&D Facility With Over £120 Million Investment

AbbVie's Major Investment in UK Research and Development

Nov 4 (Reuters) - AbbVie has expanded its UK research and development facility in Oxford as part of a more than £120 million ($161 million) investment, the US drugmaker said on Wednesday.

The investment comes a few months after the US and Britain finalised an agreement aimed at increasing UK medicine prices in line with President Donald Trump's new US pricing policies.

Key Details of the Oxford Facility Expansion

Here are more details:

Expansion and Research Capabilities

• The new 12,000-square-foot site, known as AbbVie Oxford, will broaden its research capabilities across immunology, neuroscience and oncology

Acquisition and Technological Advancements

• The facility builds on capabilities gained through the 2022 acquisition of Oxford-based biotechnology company DJS Antibodies

Focus Areas and Research Goals

• The investment will support research focused on identifying new disease targets and combination therapies in areas with significant unmet medical need

Collaborations and Partnerships

• AbbVie works with more than 100 universities and research organisations in the UK each year and is expanding collaborations with academic institutions, including the University of Oxford

University of Oxford Collaboration

• One collaboration with the University of Oxford is studying how patients with certain inflammatory diseases respond to treatments over the course of their illness, aiming to help guide future drug development

AbbVie's UK Operations

• AbbVie employs more than 1,100 people across its UK operations in Oxford, Maidenhead and Marlow

Financial Context

($1 = 0.7453 pounds)

(Reporting by Siddhi Mahatole in Bengaluru)