AstraZeneca Plans $1.5 Billion Manufacturing Facility in Singapore

By Najat Kantouar

AstraZeneca is planning to build a $1.5 billion manufacturing facility in Singapore to boost its global supply of cancer-killing treatments.

The Anglo-Swedish pharmaceutical giant said Monday that the planned greenfield facility will be its first end-to-end production site for antibody drug conjugates. The facility will incorporate all steps of the manufacturing process at a commercial scale, and be operationally ready by 2029.

"AstraZeneca has built an industry-leading portfolio of cancer medicines including antibody drug conjugates which have shown enormous potential to replace traditional chemotherapy," Chief Executive Officer Pascal Soriot said.

The facility will be built in Singapore as the country has a good reputation for complex manufacturing, he said.

Write to Najat Kantouar at [e-mail]

(END) Dow Jones Newswires

05-20-24 0248ET