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AstraZeneca PLC on Monday announced plans for a $1.5 billion manufacturing facility in Singapore to produce antibody drug conjugates, treatments that deliver ‘highly potent cancer-killing agents’. The Cambridge-pharmaceutical firm aims to start design and construction of the facility by the end of 2024, with ‘targeted operational readiness from 2029’. Shares in AstraZeneca fell 0.1% to 12,096.00 pence in London on Monday morning. The wider FTSE 100 was up 0.2%. AstraZeneca said that the the ‘planned greenfield facility, supported by the Singapore Economic Development Board, will be AstraZeneca’s first end-to-end ADC production site, fully incorporating all steps of the manufacturing process at a commercial scale.’ The company explained manufacturing of ADCs is a multi-step process that comprises antibody production, synthesis of chemotherapy drug and linker, conjugation of drug-linker to the antibody, and filling of the completed ADC substance. Chief Executive Pascal Soriot said: ‘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.’ AstraZeneca said it would begin design and construction of the manufacturing facility by the end of 2024, with targeted operational readiness from 2029. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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