AstraZeneca outlines plans for a $1.5 billion plant in Singapore

AstraZeneca has announced plans to construct a production facility in Singapore valued at US$1.5 billion (£1.2 billion).

According to AstraZeneca's announcement on Monday, this would be utilised to produce antibody-drug conjugates, which are cancer-killing medications.

According to CEO Pascal Soriot, "Singapore is one of the world's most attractive countries for investment given its reputation for excellence in complex manufacturing."

The investment will be supported by Singapore's Economic Development Board. This will be AstraZeneca's first facility for the end-to-end manufacture of antibody-drug conjugates.

Soriot stated that antibody-drug conjugates have "enormous potential to replace traditional chemotherapy for patients across many settings." AstraZeneca is the exclusive owner of six of these conjugates.

As reported by AstraZeneca, construction on the facility will begin this year and it would be completed by 2029.

The action follows AstraZeneca's recent expansion into nations including China, Indonesia, and India.

Enhertu, a breast cancer treatment that was authorised in Japan last year, is one example of an endeavour to expand supply chains. It is manufactured there by partner Daiichi Sankyo.

(Sources: investing.com, proactiveinvestors.co.uk)