Pharma major Abbott to invest $280 mn in S'pore

Mumbai, Apr 25: Global pharma major Abbott today announced setting up of a USD 280 million nutritional powder manufacturing plant in Singapore.

The work on the facility, to be set up in Tuas Biomedical Park 2 at the westernmost tip of the island nation, will start next month and completed in 2008, a company release said.

Described as Abbott's first major capital investment in Asia and its largest nutritional investment ever, the company said when operationised by the end of 2008, the plant will enable the company meet increasing demand for its nutritional products in the region.

Besides pharmaceuticals, this broad-based health care company also develop, manufacture and market medical products, including nutritionals, devices and diagnostics.

UNI