"AstraZeneca to Invest $1.5 Billion in New Manufacturing Facility in Singapore"

AstraZeneca revealed plans on Monday to construct a $1.5 billion manufacturing facility in Singapore, aimed at advancing its antibody drug conjugates (ADCs) portfolio. This greenfield facility will be the drugmaker's first end-to-end ADC production site, bolstered by support from Singapore Economic Development.

ADCs are specialized antibodies engineered to bind to tumor cells and subsequently release cell-killing chemicals, representing a significant advancement in cancer treatment.

"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," said CEO Pascal Soriot in a statement.

HBL