(Reuters) -AstraZeneca said on Monday it plans to build a $1.5 billion manufacturing facility in Singapore in an effort to enhance its antibody drug conjugates (ADCs) portfolio.
The greenfield facility, which will be the drugmaker's first end-to-end ADC production site, will be supported by Singapore Economic Development.
ADCs are engineered antibodies that bind to tumour cells and then release cell-killing chemicals.
"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," CEO Pascal Soriot said in a statement.
(Reporting by Radhika Anilkumar in Bengaluru; Editing by Sherry Jacob-Phillips)
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