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Thursday, Jun 8, 2023

Amgen Announces $200 Million Asian Expansion

Amgen Inc. will invest $200 million over several years in a new manufacturing facility in Singapore, the company said Thursday. The facility in the Tuas Biomedical Park will initially focus on producing antibodies used in Amgen drugs. Construction will begin in the next few months. “Amgen is pleased to be planning for a new world-class facility in Singapore as part of our global expansion strategy,” said Madhu Balachandran, executive vice-president of operations, in a prepared statement. “Singapore is an ideal location to further our manufacturing efforts based on its rich talent pool and friendly business environment.” The Thousand Oaks biotechnology company is partnering with universities in Singapore to recruit for positions at the facility. The firm currently has facilities Asia in Hong Kong, Mumbai and Tokyo. Shares of Amgen lost 38 cents, or about half a percent, to close at $83.94 on the Nasdaq.

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