AstraZeneca PLC (LSE:AZN) has unveiled plans to build a US$1.5 billion (£1.2 billion) production plant in Singapore.
This will be used to manufacture cancer-killing drugs known as antibody-drug conjugates, AstraZeneca announced on Monday.
“Singapore is one of the world's most attractive countries for investment given its reputation for excellence in complex manufacturing,” chief executive Pascal Soriot said.
Singapore’s Economic Development Board will support the investment in the site, which will be AstraZeneca’s first end-to-end production facility for antibody-drug conjugates.
Soriot added antibody-drug conjugates, of which AstraZeneca wholly owns six, showed “enormous potential to replace traditional chemotherapy for patients across many settings”.
AstraZeneca said the plant would start being built this year, before fully opening in 2029.
The move comes after AstraZeneca has grown its presence in the likes of China, Indonesia and India over recent years.
Such efforts to broaden supply chains include seeing breast cancer therapy Enhertu made in Japan by partner Daiichi Sankyo, where it was approved last year.