AstraZeneca announces US$1.5 billion advanced manufacturing site in Singapore for cancer therapies

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20th May 2024 – (Singapore) AstraZeneca has unveiled plans to establish a new $1.5 billion manufacturing facility in Singapore, aimed at producing antibody-drug conjugates (ADCs) and targeted therapies for cancer, marking the company’s first fully integrated ADC production site globally. This initiative, announced on Monday, 20th May, highlights the company’s strategic expansion and commitment to advanced manufacturing capabilities.

The British pharmaceutical giant’s decision to choose Singapore for this significant investment is supported by the Singapore Economic Development Board (EDB), which recognises the project’s potential to enhance the nation’s status as a hub for biomedical sciences and precision medicine manufacturing.

Pascal Soriot, CEO of AstraZeneca, praised Singapore’s established excellence in complex manufacturing processes, expressing enthusiasm about locating the new facility within such a conducive environment. The facility promises to be a cornerstone in AstraZeneca’s expanding operations across Asia, which includes recent market penetrations in China, Indonesia, and India.

The planned facility is set to break ground by the end of 2024 and is expected to be operational by 2029, operating with a commitment to zero carbon emissions from its inception. This development not only bolsters AstraZeneca’s portfolio of precision medicine, including several ADCs currently under clinical and pre-clinical evaluation but also aligns with Singapore’s economic strategy to strengthen its biopharmaceutical sector, which is a vital contributor to the country’s GDP and global pharmaceutical manufacturing output.

EDB Chairman Png Cheong Boon expressed strong support for AstraZeneca’s investment, noting its alignment with Singapore’s long-term vision for the biomedical sciences industry and its potential to create substantial job and economic opportunities within the region.