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[moneytoday] UNDBIO to Get U.S. Assistance to Produce Insulin...UNDBIO to Get U.S. Assistance to Produce Insulin...
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- 2022-06-21
▶ UNDBIO signed a memorandum of understanding (MOU) that Chairman Jeon Yong-soo and Mitch Carmichael, economic development minister of West Virginia, cooperate with each other for the insulin business.
▶ UNDBIO plans to set up an insulin lab and factory in West Virginia. This is expected to create more than 1,200 jobs in West Virginia.
▶ Sen. Joe Mancin said, "We welcome UNDBIO to relocate its manufacturing facilities in West Virginia to produce long-term, affordable insulin," adding, "We will cooperate as much as possible to establish a factory as soon as possible when we do business with West Virginia."
▶ "The MOU between UNDBIO and West Virginia is the beginning of an international plan for UNDBIO to build an insulin plant in West Virginia," said Shelley Moore, a Republican senator from West Virginia.
▶ Gordon Gee, president of West Virginia State University, said, "We will provide the best business opportunities for the success of the UNDBIO insulin business, especially by providing government land subsidies and other research budgets."