$1.5 billion investment from AstraZeneca in Singapore
AstraZeneca announced that it will establish a $1.5 billion cancer drug production facility in Singapore.
British-Swedish pharmaceutical company AstraZeneca announced that it plans to establish a $1.5 billion production facility in Singapore to produce antibody-drug conjugates (ADCs) and targeted cancer therapy. The facility, which will be the drugmaker’s first end-to-end ADC manufacturing facility, will be supported by the Singapore Economic Development Board.
Multistep production of ADCs involves producing the antibody, synthesizing the chemotherapy drug and its linker, conjugating these elements, and filling the completed ADC material. The drugmaker currently has a broad portfolio of in-house ADCs, including six wholly owned ADCs in the clinic and more in preclinical development.
AstraZeneca aims to start construction of the facility by the end of 2024 and expects the facility to be operational from 2029.
“Given its reputation for excellence in complex manufacturing, Singapore is one of the world’s most attractive countries for investment. I am excited that AstraZeneca is establishing its $1.5 billion ADC manufacturing facility in this country,” AstraZeneca CEO Pascal Soriot said in a statement.