Singapore draws more global drugmakers with government support
New York's Pfizer (NYSE: PFE) has cut the ribbon on a massively-expanded manufacturing facility at the Tuas Biomedical Park in Singapore.
The new capacity to produce active pharmaceutical ingredients (API) cost around $1 billion Singaporean dollars ($743 million) and will supply Pfizer’s oncology, pain, and antibiotic medicines for global markets.
Mike McDermott, chief global supply officer and executive VP, stressed the role of Singapore’s Economic Development Board (EDB) in the construction of the factory.
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