AstraZeneca (AZN.L), opens new tab plans to build a $1.5 billion manufacturing facility in Singapore to produce a promising category of cancer-killing drugs called antibody-drug conjugates (ADCs), the Anglo-Swedish drugmaker said on Monday, Reuters reported.
The facility, which will be the drugmaker's first end-to-end ADC production site, will be supported by the Singapore Economic Development Board. The company did not provide details on the possible financial incentives from the Singapore government.
London-listed AstraZeneca has been expanding into markets like China, Indonesia and India over the past few years in an effort to widen its supply chain. Its breast cancer therapy Enhertu is made by its partner Daiichi Sankyo (4568.T), opens new tab in Japan.
Chief Executive Pascal Soriot said Singapore was a top global venue for investment with a reputation for excellence in complex manufacturing.
ADCs are engineered antibodies that bind to tumour cells and then release cell-killing chemicals.
The multi-stage production of ADCs involves generating the antibody, synthesising the chemotherapy drug and its linker, conjugating these elements, and filling of the completed ADC substance.
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.
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