Insulin maker to build $100M plant in West Virginia

Dive Brief:

South-Korea-based biomanufacturer UNDBIO is set to build a $100 million insulin manufacturing facility in Morgantown, West Virginia, according to the governor’s office.
The drugmaker secured a lease with West Virginia University for the site, which is expected to generate 200 jobs in its first three years.
UNDBIO will use the site to produce once-weekly insulin injections. The injections, which are not yet approved by the FDA, will await review during the project’s first phase of development, with ground breaking expect this fall, Department of Economic Development Secretary Mitch Carmichael said during an April 12 press event. After securing approval, the company plans to expand, adding up to over 600 jobs.

Dive Insight:

UNDBIO’s investment is a key part of Morgantown’s recovery after the closure of a major pharmaceutical plant resulted in the loss of 1,500 jobs in 2020.

“We were dealt a real curveball a few years back in the Morgantown area, and trying to build back in industry, whether it be pharmaceuticals or whatever it may be, was surely an uphill climb,” Gov. Jim Justice said during the event. “But today we’re announcing a major, major move into the Roanoke area.”

News of the facility comes on the heels of price reductions by major insulin manufacturers in response to federal efforts to cap insulin costs.

In March, Eli Lilly announced it would lower prices by 70% for its most commonly prescribed insulins and expand a program that caps out-of-pocket costs at $35 per month. That same month, Novo Nordisk said it would cut the price of its insulin products up to 75%.

“The mission of UNDBIO is to develop and produce state-of-the-art insulin in West Virginia that is a reasonable price,” UNDBIO Chairman Caleb Jun said during the press event. “If all goes according to plan, UNDBIO will become one of the top biopharmaceutical companies while bring price-competitive insulin produced to the U.S. market.”

UNDBIO’s West Virginia Representative Steve Leach told Manufacturing Dive that the company expects its product will be reviewed by the FDA within the next year.