AstraZeneca announced plans to construct a US$1.5 billion manufacturing facility in Singapore dedicated to producing antibody-drug conjugates (ADCs), a promising category of cancer-killing drugs. The Singapore Economic Development Board will support the project, although specific financial incentives were not disclosed.
This facility marks the first of its kind for AstraZeneca, designed to oversee the entire production process of these important medicines. ADCs have shown potential in revolutionizing cancer treatment by delivering the active ingredient directly to cancer cells while sparing healthy ones.
CEO Pascal Soriot’s move aims to ensure AstraZeneca’s self-sufficiency in supplying major markets and reduce dependence on China. The company’s expansion into new markets aligns with this strategy, with plans for the Singapore facility to be operational by 2029 with a commitment to zero carbon emissions.