 Novartis opens new pharma plantPublished on Thu, Nov 01, 2007 at 15:17 | Source : Moneycontrol.com Updated at Thu, Nov 01, 2007 at 16:08 2441 Investors following Novartis India. Share this News with them.
The Singapore Economic Development Board announced that Novartis officially inaugurated a new state-of-the-art pharmaceutical manufacturing site in Tuas, Singapore, adding capacity to its global production network to meet business growth and support new product launches in the US and Japanese markets. The opening ceremony in Singapore was attended by Lim Hng Kiang, Minister of Trade and Industry for Singapore, and other officials, as well as Novartis senior executives. The plant will manufacture solid dosage forms (tablets) of existing Novartis pharmaceutical brands, such as Diovan(R), and new products, like Tekturna(R). It is expected to be fully operational in 2009 and to employ around 160 employees. In addition, Novartis unveiled its plan to build a large-scale biotechnology plant in Singapore to support the rapid growth of its biologics sector, which now accounts for 25 percent of the Novartis product pipeline. Novartis expects to invest approximately USD 700 million - its largest investment to date in manufacturing capacity - in the new, state-of-the-art cell-culture facility. The biotech plant will employ more than 300 people when fully operational. Construction is expected to start in early 2008. Subject to regulatory approvals, the plant will be operational by the end of 2012. "I am delighted to celebrate the opening of Novartis' new tabletting manufacturing facility as well its decision to locate one of its largest biologics manufacturing facility here in Singapore," said Minister for Trade and Industry, Mr Lim Hng Khiang. "The tabletting facility is a significant endorsement of Singapore as a value-adding partner to world-class pharmaceutical companies. The biologics facility further reinforces Singapore's position as a leading location for world-class biopharmaceuticals manufacturing. Within two years, we have attracted five biologics manufacturing investments." The cell-culture plant will support both clinical and commercial production of potential new products in the area of biopharmaceutical therapies, primarily monoclonal antibodies, for indications such as rheumatoid arthritis, oncology, asthma and spinal chord injury. The Novartis Institute for Tropical Diseases (NITD), Novartis Asia-Pacific Head Offices and a production facility for Ciba Vision are already based in Singapore. The new production facilities in Singapore will further strengthen Novartis as a global healthcare company, with a key presence in all major markets. Sourced From: Mileage Communications (India) Pvt. Ltd
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