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....
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Week In Review: 3 Multinationals Plan Investments In Southeast Asia Facilities