Avantor® to Boost Global Production of Single-Use Technologies and Address Growing Biopharma Demand
Avantor Inc. (NYSE: AVTR) announced plans to enhance its global capacity for single-use technologies crucial in biologics and vaccine production.
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Rhea-AI Summary
Avantor Inc. (NYSE: AVTR) announced plans to enhance its global capacity for single-use technologies crucial in biologics and vaccine production. This expansion includes a 30% increase in manufacturing footprint and a doubling of cleanroom space across the U.S. and Europe, responding to rising demand for monoclonal antibodies, gene therapies, and COVID-19 vaccines. Recent expansions include its North Carolina facility and a new cleanroom in Devens, Massachusetts, expected by mid-year. A second European facility will also open in the Netherlands, ensuring efficient supply to biopharma clients.
Positive
- 30% increase in single-use manufacturing footprint.
- Doubling of cleanroom space enhances production capabilities.
- Expansion aligns with rising demand for monoclonal antibodies and gene therapies.
Negative
- None.
Details
News Market Reaction – AVTR
The recorded move for AVTR in the trading session of this news was +0.63%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
RADNOR, Pa., April 26, 2021 /PRNewswire/ -- Avantor Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences, advanced technologies and applied materials industries, today announced that it will increase global capacity for high-quality single-use technologies used in the production of biologics and vaccines.
In the U.S. and Europe, the Company will increase its single-use manufacturing footprint by
Avantor recently expanded its Morrisville, North Carolina, single-use facility and expects completion of a cleanroom expansion at its Devens, Massachusetts, operation by mid-year. The Company also expects to open its second European single-use facility in Hillegom, the Netherlands, by then as well.
Dr. Ger Brophy, Executive Vice President of Biopharma Production at Avantor, said, "The industry's response to the COVID-19 pandemic has relied heavily on the integration of single-use products into biopharma production processes. Efficacy and safety are of the utmost importance to our customers, and they look to us to understand and support their requirements as they rapidly expand their own manufacturing capacity.
"These additions to our global single-use manufacturing ecosystem are critical steps in enabling our customers to get therapies to patients quickly," Brophy added.
The investment further strengthens the Company's single-use network, providing product consistency and capabilities close to bioproduction customers to help ensure efficient and uninterrupted supply.
Watch this video for more information about how Avantor's single-use solutions support biopharma manufacturing.
About Avantor
Avantor®, a Fortune 500 company, is a leading global provider of mission-critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. Our portfolio is used in virtually every stage of the most important research, development and production activities in the industries we serve. Our global footprint enables us to serve more than 225,000 customer locations and gives us extensive access to research laboratories and scientists in more than 180 countries. We set science in motion to create a better world. For more information, visit avantorsciences.com and find us on LinkedIn, Twitter and Facebook.
Global Media Contact
Robert Donohoe
Senior Director, Corporate Communications
Avantor
M: 484-688-4730
Robert.Donohoe@avantorsciences.com
View original content:http://www.prnewswire.com/news-releases/avantor-to-boost-global-production-of-single-use-technologies-and-address-growing-biopharma-demand-301276964.html
SOURCE Avantor and Financial News
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