South Korean pharmaceutical company to build an insulin manufacturing facility in Morgantown
WV Press Release Sharing
CHARLESTON W.Va. — Gov. Jim Justice announced today that UNDBIO, a South Korean pharmaceutical company that provides diabetic care solutions, has secured a lease with West Virginia University to build an insulin manufacturing facility in Morgantown.
The company will create 200 jobs within the first three years and will invest $100,000,000 in phase one of the project.
“I am thrilled to make this announcement today and to welcome UNDBIO to Almost Heaven,” Gov. Justice said. “The addition of these good-paying jobs, with the potential for more in the future, is great news for Morgantown and for our entire state. The Morgantown area has a strong manufacturing history and I am proud that UNDBIO will join our growing list of successful, world-leading manufacturing companies who’ve chosen the Mountain State.”
According to the latest information from the American Diabetes Association, 51 million persons in North America have diabetes. It’s estimated that 537 million persons have diabetes around the world.
“The mission of UNDBIO is to develop and produce state-of-the-art insulin in West Virginia,” UNDBIO Chairman Caleb Jun said. “Our products will save human lives and improve the quality of life for those afflicted with diabetes. We are excited to see West Virginia become a mecca for manufacturing highly advanced insulin to treat diabetic patients around the world.”
In phase one, the facility will work to secure FDA approval for the product. After securing FDA approval, UNDBIO plans to expand, creating additional jobs for the hard working people of West Virginia.
“I join the Governor in expressing my excitement for this announcement today,” Secretary of the West Virginia Department of Commerce Mitch Carmichael said. “This announcement, this company, this investment, and the potential for so many jobs for our hardworking West Virginians makes for a very great day. Good things are on the horizon – this is just the beginning!”
“We look forward to building a strong relationship with UNDBIO that can further an important part of our land-grant mission to create opportunities for our graduates, and to provide better access to health care for people across the region,” West Virginia University President Gordon Gee said.
“The City of Morgantown is excited to have UNDBIO located in our community,” Morgantown Mayor Jenny Selin said. “The City is ready to partner with the company for many years to come. They are a quality company that will add great value in jobs and investment in the insulin manufacturing industry.”
“The Monongalia County Commission welcomes UNDBIO to the community,” Commission President Tom Bloom said. “We have been striving to attract jobs in the health sciences arena and are fortunate to have UNDBIO invest in Monongalia County and Morgantown. The County will provide ongoing support for UNDBIO as it does for all business in the County.”