(Alliance News) – AstraZeneca PLC announced plans on Monday to build a $1.5 billion manufacturing plant in Singapore to produce antibody-drug conjugates, treatments that deliver “highly potent anti-cancer agents.”
The Cambridge pharmaceutical company intends to begin design and construction of the facility by the end of 2024, with “targeted operational availability from 2029”.
AstraZeneca shares fell 0.1% to 12,096.00 pence in London on Monday morning. The FTSE 100 index was up 0.2%.
AstraZeneca said “the planned greenfield facility, supported by the Singapore Economic Development Board, will be AstraZeneca’s first end-to-end ADC production site, fully incorporating all stages of the manufacturing process at the same time. ‘commercial scale’.
The company explained that the manufacturing of ADCs is a multi-step process that includes the production of antibodies, the synthesis of the chemotherapeutic drug and linker, the conjugation of the drug-linker to the antibody and the filling of the complete ADC substance .
Pascal Soriot, Managing Director, said: “Singapore is one of the largest research centers in the world: “Singapore is one of the most attractive countries in the world for investment, given its reputation for excellence in complex manufacturing, and I am delighted that AstraZeneca is establishing its $1.5 billion ADC manufacturing facility there.
AstraZeneca said it would begin design and construction of the manufacturing plant by the end of 2024, and it would be operational from 2029.
By Jeremy Cutler, Alliance News reporter
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