Pharmaceutical giant AstraZeneca has announced plans to invest $1.5bn in a new antibody-drug conjugates (ADCs) manufacturing facility in Singapore.
The new facility will be the company’s first to cover the full manufacturing process for ADCs, which are a type of highly effective and targeted cancer treatment. In this way, it will support AstraZeneca’s production of ADCs, of which it already has a broad portfolio.
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The project is being supported by the Singapore Economic Development Board (EDB), with construction scheduled to start by the end of 2024. The plant is expected to be operational by 2029.
Pascal Soriot, chief executive officer of AstraZeneca, said: “AstraZeneca has built an industry-leading portfolio of cancer medicines including antibody-drug conjugates, which have shown enormous potential to replace traditional chemotherapy for patients across many settings. Singapore is one of the world’s most attractive countries for investment given its reputation for excellence in complex manufacturing, and I am excited for AstraZeneca to locate our $1.5bn ADC manufacturing facility in the country.”
Png Cheong Boon, chairman of the EDB, added: “We welcome AstraZeneca’s decision to establish a manufacturing presence in Singapore for the first time. It will also be a first for AstraZeneca – an end-to-end manufacturing facility for novel antibody-drug conjugates that enables precision therapy for cancer.”
“This greenfield investment is a strong show of confidence in Singapore’s biopharmaceutical manufacturing capabilities and talent, strengthens our ecosystem in supporting the development and manufacturing of precision medicines, and creates meaningful jobs and economic opportunities for Singapore. We look forward to a successful partnership with AstraZeneca.”
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By GlobalDataEarlier this year, AstraZeneca announced a $300m investment in a facility for cell therapy platforms in Rockville, Maryland, US.
Headquartered in Cambridge, England, the company has operations in Europe, the Americas, Asia, Africa and Australasia, with around 89,000 global employees.
