Executives from New Jersey-based Advanced Accelerator Applications USA Inc. will Monday break ground on a new, $72 million manufacturing facility in Indianapolis. The company, a subsidiary of Switzerland-based Novartis AG (NYSE: NVS), says the plant will produce radioligand therapies used to treat cancer.
Plans for the 60,000-square-foot facility were first announced in June. Financial details of AAA’s investment in the project were not disclosed, however the company says the plant will be the third Novartis location in Indiana.
The facility will be located in the Purdue Research Park in Indy near Indianapolis International Airport and is expected to create as many as 50 jobs. Construction is expected to be complete in 2023.