Firm will invest $500 million in biotech manafacturing
Novartis is to invest $500 million (£310 million) in a new biotech manufacturing plant in Singapore. It will begin building in 2013 and expects to have the site fully operational by the end of 2016. The new plant, which will make drugs through cell culture, will be located with the Novartis production plant at Tuas. It will be designed to handle small and large scale volumes and support both clinical and commercial production.
‘We have chosen Singapore as strategic supply point as it offers a wide range of advantages due to its strong local biomedical presence and knowledge, skilled labor as well as proximity to growth markets in Asia,’ said chief executive Joseph Jimenez.