Alcon to build drug plant in Singapore

Switzerland-headquartered Alcon plans to build a facility in Singapore that will manufacture pharmaceuticals to be distributed throughout most of Asia. The company aims to break ground in 2009 with the plant being fully functional in 2012. The new Alcon unit is expected to employ more than 150 people within three years after commencing production.

Ophthalmics specialist Alcon, which is majority owned by Swiss food giant Nestle, is currently the subject of a two-part takeover agreement from pharmaceuticals major Novartis (Marketletter April 14).

Over recent years, Alcon's sales of pharmaceuticals that treat diseases and conditions of the eye have risen at a compound annual growth of over 20% in Asian markets. 2007 global sales were $5.6 billion. By building the unit, Alcon says it will be able to more efficiently and cost-effectively distribute drugs in the high-growth countries of Asia. "Given the rapid growth in this region, this plant is integral to our ability to meet future market demands," said Ed McGough, Alcon's senior vice president, global manufacturing and technical operations.