China-based biotech BeiGene (NASDAQ: BGNE, HKG: 6160, SHA: 688235) held a ceremony to mark the “topping off” of construction at its new biologics manufacturing and R&D facility in Hopewell, New Jersey. The last piece of structural steel was laid at the site, signaling that construction is now expected to be completed in 2024.
Investment and Expansion Plans
BeiGene is investing a total of around USD 700 million to establish an initial 400,000 square feet of commercial-stage biologics manufacturing capacity. The facility has the potential to expand by an additional 600,000 square feet over time, reflecting BeiGene’s commitment to enhancing its global manufacturing capabilities.
Global Approvals and Future Aspirations
BeiGene continues to gain global approvals for its Bruton’s tyrosine kinase (BTK) inhibitor Brukinsa (zanubrutinib). The company also retains hope of securing its first market approval in the US for its PD-1 inhibitor tislelizumab, potentially later this year. This expansion in New Jersey is a strategic step towards supporting BeiGene’s growing pipeline and global market presence.-Fineline Info & Tech
