AstraZeneca to Invest $1.5B in New Manufacturing Facility

AstraZeneca has plans to build a $1.5 billion manufacturing facility in Singapore to produce a promising category of cancer-killing drugs called antibody-drug conjugates.

The facility will be the pharmaceutical company's first end-to-end ADC production site and supported by the Singapore Economic Development Board, reports Reuters.

AstraZeneca has been expanding into markets including China, Indonesia, and India over the last few years in an effort to widen its supply chain. Its breast cancer therapy Enhertu is made by its partner Daiichi Sankyo in Japan.

“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, said Pascal Soriot, CEO, AstraZeneca.

"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 $1.5 billion ADC manufacturing facility in the country," he added.

ADCs are engineered antibodies that bind to tumor cells and then release cell-killing chemicals.

AstraZeneca has a wide portfolio of in-house ADCs, which includes six wholly owned ADCs in clinic and more in pre-clinical development.

Economic Development Board Chairman Png Cheong Boon welcomed AstraZeneca's plans, saying it supported Singapore's development and manufacturing of precision medicines, and helped create jobs and economic opportunities.

Construction will begin by the end of 2024 and it should be operational in 2029, the company said, adding it will have zero carbon emissions from its first day of operations.