AstraZeneca Plc plans to build a $1.5 billion factory in Singapore to produce antibody and drug conjugates, as the UK drugmaker strives to bolster its ability to produce next-generation cancer treatments.
The factory will be Astra’s first drug conjugate facility to produce the drugs from start to finish, the company said in a statement on Monday. The opening is scheduled for 2029 and will emit zero carbon from the start.
CEO Pascal Soriot is working to ensure Astra can independently supply medicines to key markets as the US pushes to reduce the industry’s dependence on China. Shortages during the pandemic have also highlighted the need for local production.
“We are organizing ourselves so that we can supply the USA and Europe independently”, said Soriot in March, on the sidelines of the Bo’ao Forum for Asia.
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British rival GSK Plc opened a manufacturing facility in Singapore in 2022 to produce a key ingredient for antibody-drug conjugates.
Astra shares were little changed in early trading in London. They have gained 14% so far this year, less than GSK.
Antibody-drug conjugates have become an important part of Astra’s fight against cancer, showing promise in eventually replacing conventional chemotherapy for some patients. They work by transporting the active ingredient directly to cancer cells, with the aim of sparing healthy cells.
The factory represents a “strong demonstration of confidence in Singapore’s biopharmaceutical manufacturing capabilities and talent,” said Png Cheong Boon, who chairs the Singapore Economic Development Board.
This story originally appeared on Time.com read the full story
