Singapore (AP)- U.S. biotechnology company Genentech Inc. will invest US$140 million in a drug manufacturing facility in Singapore, the city-state's investment promotion agency said Wednesday.
The facility, which will employ about 100 employees, will produce Lucentis, a drug for treating age-related eye disease, the Economic Development Board said in a statement. Genentech is based in South San Francisco.
Construction of the plant, Singapore's fourth such biologics facility, is expected to begin in the second quarter of 2007, and Genentech will likely secure a license to operate in early 2010.