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AbbVie to build US$320m manufacturing facility here

Published Thu, Feb 6, 2014 · 10:00 PM

[SINGAPORE] US pharmaceutical firm AbbVie will invest US$320 million to build a manufacturing facility here. It will be the company's first manufacturing facility in Asia, and is expected to be fully operational by 2019.

AbbVie, formed in 2013 after its separation from Abbott Laboratories, produces some of the world's best- selling drugs including Humira, a rheumatoid arthritis treatment with annual sales of about US$15 billion.

When AbbVie's plant is completed, the Republic will have 29 pharmaceutical plants, nine of which will be involved in making biologics.

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AbbVie to build US$320m manufacturing facility here

New Articles

Great Eastern shares jump 39% as OCBC mounts S$1.4 billion privatisation bid at S$25.60 per share

Cordlife says private placement is to address urgent cash needs

Cordlife substantial shareholders lay out separate plans to address issues after AGM

OCBC Q1 profit rises 5% to S$1.98 billion

Brokers’ take: Analysts positive on Aims Apac Reit’s prospects; trim targets on lower earnings estimates

Singapore stocks open lower on Thursday; STI down 0.3%

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