Novartis to Build $55M Gene Therapy Manufacturing Facility
Issue # 2691 | May 25th, 2018
Novartis to Build $55M Gene Therapy Manufacturing Facility in North Carolina
AveXis, recently acquired by Novartis for $8.7 billion, will invest $55 million to build a new manufacturing facility in Durham, North Carolina. The facility will create 200 jobs and offer employees a signfiicantly competitive salary. AveXis will use the new site to make its first product candidate, AVXS-101, a gene therapy to treat three types of spinal muscular atrophy (SMA). Durham was competing with the state of Illinois for the site. Illinois approved tax credits of almost $8 million to bring the jobs to Libertyville, Illinois. But instead, AveXis took a $3 million incentive package in North Carolina.