AbbVie (ABBV) To Invest $320 Million In First Asian Manufacturing Plant
2/6/2014 6:45:51 AM
AbbVie Expands Manufacturing Presence with US$320 Million Investment in Singapore
NORTH CHICAGO, Ill., Feb. 5, 2014 /PRNewswire/ -- AbbVie Inc. (NYSE: ABBV) announces a US$320 million [approximately S$400 million] investment to establish operations in Singapore for small molecule and biologics active drug substance manufacturing. The completed facility will provide manufacturing capacity for emerging compounds within AbbVie's oncology and immunology pipeline to serve markets globally.
The investment will establish the first manufacturing presence in Asia by AbbVie. Other AbbVie operations in Asia include research and development (R&D) functions in Tokyo, Japan and Shanghai, China, as well as commercial operations throughout the region. AbbVie's existing presence in Singapore includes 120 personnel, supporting commercial operations, global R&D and general operations.
"As Asia's fastest-growing bio-cluster, Singapore is an ideal location to expand our manufacturing network while maintaining rigorous standards of quality and delivery for the patients we serve around the world," said Azita Saleki-Gerhardt, Ph.D., Senior Vice President, Operations, AbbVie. "Our presence in Singapore will help assure geographic balance and continuity of product supply as well as increased capacity to deliver on our growing biologics and small molecule product pipeline."
"We are very pleased that Singapore will host AbbVie's first manufacturing facility in Asia. This investment is a testament of Singapore's strong biologics manufacturing capabilities. To support the continued growth of this sector, Singapore will be investing heavily in human capital development, and new programs will be put in place to train biologics manufacturing talent ahead of demand," said Kevin Lai, Director, Biomedical Sciences of the Singapore Economic Development Board.
The investment is expected to result in additional headcount of more than 250 new employees. AbbVie anticipates the new facility will be fully operational by 2019.
AbbVie is focused on delivering its small molecule and biologics pipeline to address significant unmet medical needs and advance the wellbeing of patients across the following therapeutic areas: immunology, liver disease, oncology, neuroscience and kidney disease. The company's unique offerings stem from its 125-year pharmaceutical development heritage combined with the innovative focus of a biotech.
AbbVie's current manufacturing network includes 12 sites across the United States, Europe and Puerto Rico, as well as strategic partnerships with third-party manufacturers.
AbbVie is a global, research-based biopharmaceutical company formed in 2013 following separation from Abbott. The company's mission is to use its expertise, dedicated people and unique approach to innovation to develop and market advanced therapies that address some of the world's most complex and serious diseases. AbbVie employs approximately 25,000 people worldwide and markets medicines in more than 170 countries. For further information on the company and its people, portfolio and commitments, please visit www.abbvie.com. Follow @abbvie on Twitter or view careers on our Facebook or LinkedIn page.
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