AstraZeneca to build 1.5 billion USD cancer drug facility in Singapore

May 21, 2024 | 16:28

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British pharmaceutical company AstraZeneca announced on May 20 its intention to build a 1.5 billion USD facility in Singapore to produce new generation cancer treatment drugs.

AstraZeneca to build 1.5 billion USD cancer drug facility in Singapore

Illustrative photo (Photo: bssnews.net)

Hanoi – British pharmaceutical company AstraZeneca announced on May 20 its intention to build a 1.5 billion USD facility in Singapore to produce new generation cancer treatment drugs.

The plant is scheduled to become operational in 2029 and manufacture antibody drug conjugates (ADCs).

ADCs are next-generation treatments that deliver highly potent cancer-killing agents directly to cancer cells through a targeted antibody, it said, adding that the facility will be designed to emit zero carbon from its first day of operation.

In its announcement, AstraZeneca also unveiled that the plant is supported by the Singapore Economic Development Board (EDB).

Png Cheong Boon, EDB’s Chairman said that they welcome AstraZeneca's decision to establish a manufacturing presence in Singapore for the first time.

It will also be a first for AstraZeneca – an end-to-end manufacturing facility for novel antibody drug conjugates that enables precision therapy for cancer, he continued.

Pascal Soriot, the company's chief executive, said that ADCs have shown enormous potential to replace traditional chemotherapy for patients.

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By VNA

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