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SINGAPORE : Pharmaceutical giant Novartis is pumping US$700 million to build a new large-scale biotechnology facility in Singapore.
This is the firm's largest investment in manufacturing capacity to date.
The announcement came as Novartis officially opened its US$180 million tabletting facility in Tuas on Monday.
Singapore was chosen for Novartis' new biotech facility from 40 potential international sites.
To be completed in 2012, it will house a bio-reactor which is double the size of Novartis' current largest.
"(We chose) Singapore for a combination of reasons. First of all, its being in the emerging growth for this region in Asia. Then, there's access to talent... support of the economic development board and the growing pharma cluster in this region," said Tom Van Laar, head of Global Technical Operations at Novartis Pharma.
The new facility will support both clinical and commercial production of potential new products, including drugs for asthma, cancer and spinal chord injuries.
It will employ more than 300 people when fully operational.
There are already efforts in place to meet the growing manpower needs in the sector.
"In view of our rapidly expanding pharmaceutical manufacturing base, the Singapore government has been working closely with companies like Novartis to further augment our pool of skilled manpower to support this industry," said Minister for Trade & Industry Lim Hng Kiang.
In 2006 alone, Singapore's biomedical science manufacturing output grew an unprecedented 30% over the previous year to S$23 billion.
Novartis' new tabletting plant in Tuas will have the capacity to manufacture about 3.3 billion tablets a year. It is expected to employ around 160 people.
With these two manufacturing investments, Novartis will have now invested over S$1 billion in manufacturing assets in Singapore. - CNA /ls
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