Amgen Pumps $365M Into New Ohio Facility

Vandana Singh
1 min read
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In this article:

  • Amgen Inc (NASDAQ: AMGN) plans to build a $365 million pharmaceutical packaging facility in New Albany that will employ 400 workers.

  • The Ohio Tax Credit Authority Monday approved a state tax credit for the project.

  • Amgen plans to start work in the fall on the 270,000-square-foot facility. The site is expected to come online in 2024.

  • In a news release announcing the decision, the company said, "the facility will feature Amgen's most advanced assembly and final product packaging capabilities for medicines to be distributed in the U.S."

  • "We are adding this additional assembly and packaging plant to our global supply chain network to support the anticipated growth in demand for Amgen medicines."

  • The company will hire technicians, engineers, managers, and other positions to staff the plant. The facility is expected to have an annual payroll of around $41 million.

  • Price Action: AMGN shares are down 0.13% at $242.54 during the market session on the last check Tuesday.

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