AbbVie Inc (NYSE:ABBV) has recently opened the 120,000-square-meter small molecule active pharmaceutical ingredient (API) facility of its Singapore plant.
New Manufacturing Facility
The new API infrastructure in Singapore is the company’s first ever manufacturing facility in Asia. Aside from the API facility, it will also include a biologics facility, which is expected to go up and running in two years.
This represents an investment of more than $300 million in Singapore. The initiative will also open over 250 jobs, most of which will be offered to local individuals. The move is part of the company’s efforts to expand its oncology and women’s health pipeline.
“Our goal as AbbVie is to assure patients around the world have access to new and innovative medicines when they need them and where they need them,” boasted AzitsSaleki-Gerhardt, Ph.D., AbbVie Senior Vice President (SVP) of Operations.
Salemi-Gerhardt has explained that the investment in Singapore will further solidify the company’s manufacturing capabilities with top-of-the-line facilities and equipment, and exceptional professionals on board.
With Singapore being characterized with a rich, well-equipped labor force and a highly supportive manufacturing environment, and as having cutting-edge infrastructures, Marc O’Donoghue, Ph.D., AbbVie Singapore Site Director, believes that the country will complement the company’s prowess as a biopharmaceutical leader.
The establishment of a new manufacturing plant in Singapore gives the company’s manufacturing network a much-needed geographic equilibrium that guarantees balanced supply around the world. This brings the total number of manufacturing locations around the world to 13. More importantly, it will put AbbVie in a better position to thrive further in Asia.
Weng Si Ho, Singapore Economic Development Board (EDB) Director of Biomedical Sciences, has noted that AbbVie choosing Singapore reiterates the nation’s biopharmaceutical capabilities.
25th European Academy of Dermatology and Venereology (EADV) Congress Presentation
The pharmaceutical giant has presented on Thursday new clinical data on HUMIRA (adalimumab) and risankizumab at the 25th EADV Congress, an annual event that began on Wednesday and will conclude on Sunday.
AbbVie has declined 2.18% on Thursday to $62.82 from $64.30.