MKGAF - Week In Review: 3 Multinationals Plan Investments In Southeast Asia Facilities
2024-03-24 07:15:00 ET
Summary
- Shanghai WuXi Biologics (HK: 2269) has broken ground on a $1.4 billion facility in Singapore, the first CRDMO to offer end-to-end biologics research, development and manufacturing in the city-state.
- Novo Nordisk announced plans to invest $556 million to expand its Tianjin city production facility, presumably to manufacture its blockbuster weight loss drug, Wegovy.
- Germany’s Merck, together with MilliporeSigma, announced plans to invest $326 million in a new Bioprocessing Production Center in Daejeon, South Korea.
Company News
Shanghai WuXi Biologics ( WXXWY , HK: 2269) has broken ground on a $1.4 billion facility in Singapore, the first CRDMO to offer end-to-end biologics research, development and manufacturing in the city-state (see story ). Last year, the company said its new bioprocessing platform, WuXiUI™, offers a 3 to 6-fold increase in productivity and a 60-80% savings in cost of goods sold compared to other fed-batch processes in single-use bioreactors. The Singapore facility, which will add 120,000L of manufacturing capacity to the company's global network, is expected to employ 1,500 staff when it reaches full capacity....
Week In Review: 3 Multinationals Plan Investments In Southeast Asia Facilities