AstraZeneca announces $1.5bn Singapore manufacturing facility

(Sharecast News) - AstraZeneca announced plans to construct a $1.5bn manufacturing facility in Singapore on Monday, dedicated to the production of antibody drug conjugates (ADCs). The FTSE 100 pharmaceuticals giant said the facility would enhance the global supply of ADCs, which are advanced cancer treatments that deliver highly potent agents directly to cancer cells via targeted antibodies.

Supported by the Singapore Economic Development Board (EDB), the greenfield facility would be AstraZeneca's first comprehensive ADC production site, integrating all manufacturing steps at a commercial scale.

The complex multi-step ADC manufacturing process includes antibody production, synthesis of the chemotherapy drug and linker, drug-linker conjugation, and filling of the completed ADC substance.

AstraZeneca noted that its ADC portfolio was extensive, with six wholly-owned ADCs currently in clinical trials and several more in preclinical development.

The new facility aligned with its sustainability goals and would be designed to operate with zero carbon emissions from its inception, in collaboration with Singapore's government and other partners.

Design and construction of the facility was expected to start by the end of 2024, with operational readiness targeted for 2029.

"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 chief executive officer Pascal Soriot.

"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 $1.5bn ADC manufacturing facility in the country."

Reporting by Josh White for Sharecast.com.