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.
Here are more details:
• The new 12,000-square-foot site, known as AbbVie Oxford, will broaden its research capabilities across immunology,
neuroscience and oncology
• The facility builds on capabilities gained through the 2022 acquisition of Oxford-based biotechnology company DJS Antibodies
• The investment will support research focused on identifying new disease targets and combination therapies in areas with significant unmet medical need
• 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
• 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 employs more than 1,100 people across its UK operations in Oxford, Maidenhead and Marlow
($1 = 0.7453 pounds)
(Reporting by Siddhi Mahatole in Bengaluru)
