Chugai to expand Singapore R&D unit with $476 million investment
Japan's Chugai Pharmaceutical (TYO: 4519), which is majority owned by Swiss pharma giant Roche (ROG: SIX), plans to invest $476 million over the next seven years to expand its research institute in Singapore, reports the local newspaper the Straits Times.
The investment will make the center at Biopolis one of the biggest pharmaceutical research and development operations in Singapore. It will also "significantly boost the company's local employee base and antibody research and development pipeline," said Chugai.
The firm’s Singapore research institute, Chugai Pharmabody Research (CPR), moved into Biopolis in 2012 and employs 70 people, focusing mainly on developing new antibodies. When it was set up three years ago, CPR said it had an original plan for a five-year investment of $200 million.
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