ASTRAZENECA INVESTS OVER $60 MILLION IN EXPANDED PRODUCTION FACILITIES FOR ‘SEROQUEL’
AstraZeneca is investing $60 million (over £37 million) at its manufacturing site in Macclesfield, Cheshire, UK, to meet the rapid growth in global demand for 'Seroquel', the atypical antipsychotic. This investment is in two stages: $42 million will provide a new, general purpose tablets granulation facility, currently under construction, and a further investment of $18 million is planned for early 2001 to provide additional tablets compression facilities.
The new facilities are expected to be operational in 2002. Approximately 20 people will be required for operations and maintenance, most of whom will be recruited from the existing workforce. These projects are part of a phased programme of investments at the site, which will increase the capacity, capability and flexibility of tablets formulation facilities for various products, 'Seroquel' in particular.
The rapid growth of 'Seroquel' and the market for atypical antipsychotics is expected to continue and these new facilities will be required to sustain the supply to meet future demand. 'Seroquel' is the flagship brand for AstraZeneca's Central Nervous System (CNS) Therapy Area and it is the company’s second fastest growth product in the U.S.A. Since its first launch in September 1997, 'Seroquel' achieved sales of $231 million in 1999. Significant increases in sales and marketing investment in the US, together with further launches in Europe and Japan are expected to fuel continued rapid growth. 'Seroquel' is an atypical antipsychotic. Currently approved in over 65 markets, 'Seroquel' combines broad-based efficacy in the treatment of positive, negative, cognitive and affective symptoms of schizophrenia, while being well-tolerated. To date, over 600,000 people have been treated with 'Seroquel' world-wide.
Dr. Barrie Thorpe, Executive Vice-President for AstraZeneca's global operations, said: "This expansion of capacity represents part of AstraZeneca's commitment to the production of important and innovative treatment options in areas of unmet medical need. The investment will ensure that we have the necessary capacity to meet future global demand."
Other news from the department business & finance
Get the chemical industry in your inbox
From now on, don't miss a thing: Our newsletter for the chemical industry, analytics, lab technology and process engineering brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
