WASHINGTON (dpa-AFX) - Sandoz Group AG (SDZ.SW, SDZNY) on Tuesday said it plans to invest around $300 million to build a new biosimilar manufacturing facility in Ljubljana, Slovenia.
The facility is expected to start operations in 2029 and will add 8,000 litres of production capacity.
The company said that the facility will use disposable fed-batch technology to support the production of low- to medium-volume biosimilar medicines.
The investment will give the company greater flexibility and control over production and strengthen its European manufacturing and supply network.
The project is part of its Bio100 strategy to capture a significant share of the long-term biosimilar market.
On Monday, Sandoz Group closed trading 0.18% lesser at CHF 68.24 on the Swiss Stock Exchange.
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