NEW YORK (AP) -- Eye care products maker Alcon Inc. said Tuesday it broke ground on a drug manufacturing plant in Singapore, its first in Asia.
The Swiss company announced its plans to build the plant in April 2008. The company says it is experiencing rapid growth in Asia, and will make drugs for ailments including glaucoma, eye infectious, inflammation, and dry eyes at the plant. It expects to complete the 330,000 square foot facility in 2012. Alcon said the new plant will create 150 new jobs.
Drugmaker Novartis AG bought a 25 percent stake in Alcon from Nestle SA, and plans to take control of 77 percent of Alcon.
In afternoon trading, Alcon shares rose $1.74 to $103.42.