Ferring investing 30 million francs in new biotech center

Privately-held Swiss drugmaker Ferring Pharmaceuticals announced today that it is expanding its capabilities in biologics through a new biotech center which will be installed at the company’s existing headquarters and manufacturing site in Saint-Prex, Switzerland.

Over the next three years, Ferring will invest approximately 30 million Swiss francs ($31.9 million) in the new Ferring Biotech Center, which will incorporate discovery and development capabilities for monoclonal antibodies as well as biologics manufacturing capabilities.

“Ferring is committed to investing in innovative technology platforms to create new solutions for patients in our core areas of reproductive medicine and women’s health, gastroenterology and urology,” said Michel Pettigrew, president of the executive board and chief operating officer, Ferring Pharmaceuticals. “This significant investment in state-of-the art manufacturing and development technologies fits our strategy to address unmet patient needs in these areas, and will open up additional opportunities for Ferring to help people live better lives,” he added.