Novartis, Europe's second-biggest drugmaker, said it will spend $700 million on a biotechnology manufacturing plant in Singapore.
About 300 jobs will be created by the new plant, which will make so-called monoclonal antibodies used in treatments for rheumatoid arthritis, cancer, asthma and spinal cord injury, Basel, Switzerland-based Novartis said in a statement today. It expects the plant to start operations in 2012.
The announcement was made at the opening of Novartis's $180 million pharmaceuticals plant in Singapore. Expected to be fully operational by 2009, the plant will employ 160 people and make products including the Diovan heart drug and Tekturna for hypertension.
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