British pharmaceutical giant AstraZeneca (AZNhorsepoker.US) announced a major investment planhorsepoker, will establish a US$1.5 billion advanced manufacturing plant in Singapore specializing in the production of antibody drug conjugates (ADCs) and targeted cancer therapies. This will be the company's first base to cover the entire ADC production process and will receive strong support from the Singapore Economic Development Council. Construction of the plant will start at the end of this year and is expected to be put into operation in 2029. AstraZeneca said it had received support from the Singapore Economic Development Board, but did not disclose what incentives it would receive from the Singapore government.

It is understood that ADC is an innovative biotechnology drug that binds engineered antibodies to tumor cells and releases cell-killing chemicals to accurately treat cancer. The production process of this drug is very complex, involving the production of antibodies, the synthesis of chemotherapeutic drugs and their connecting molecules, the binding of various components, and the filling of the final ADC preparation.

Pascal Soriot, CEO of AstraZeneca, said in a statement: "Singapore is known for its outstanding capabilities in complex manufacturing and is one of the most attractive countries for investment in the world. We are very excited to build this US$1.5 billion ADC manufacturing facility in Singapore."

It is worth mentioning that under the leadership of the company's CEO Pascal Soriot, AstraZeneca has recently invested a lot of money in the field of anti-cancer drugs, but in recent months, the company's profit margins and drug marketing research and development expenditures have been closely watched by the market.

Among them, AstraZeneca's anti-cancer drugs Tagrisso and Enhertu, which have just received new licensing certificates in the United States, and rare disease treatment drug Ultomiris, helped the company's total revenue increase by about 17% last quarter.

Sarin said in an interview with the media: "This is the first time that our biopharmaceutical business and oncology business revenue has exceeded US$5 billion." "Our rare disease business has revenue of more than $2 billion. Growth is not driven by one or two drugs, but by a very broad base."

Currently, AstraZeneca has a series of internal ADC products, including 6 wholly-owned ADC projects in the clinical stage and multiple ADC candidates in the preclinical development stage.

The company plans to start construction of new facilities by the end of 2024 and expects to be fully operational by 2029. This move will not only strengthen AstraZeneca's leadership position in the global biopharmaceutical field, but will also bring new vitality and growth potential to Singapore's biopharmaceutical industry.