15 April 2008 21:52 [Source: ICIS news]
NEW YORK (ICIS news)--Swiss eye-care firm Alcon plans to build a new pharmaceutical plant in Singapore to keep up with rapid growth in that region, the company said on Tuesday.
“The plant will be running at capacity in three years, with 53m units/year with the current number of planned production lines,” said Kathleen Golden, Alcon's manager of corporate communications.
Earlier this week Alcon announced plans for the new facility, for which it will break ground in 2009.
Alcon has not disclosed the investment it is making in the facility, Golden said.
The 250,000 square foot (23,250 square metre) facility will be built in the Tuas Biomedical Park, Singapore’s pharmaceutical and biotechnology hub.
Earlier this month, Novartis announced that it will acquire a 25% minority stake in Alcon from Nestle at a price of $143.18 (€90.20)/share. Alcon said it does not believe the Singapore investment will have any effect on the Novartis/Nestle agreement.
($1 = €0.63)
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