An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
BeiGene Enters New Phase to Expand US Manufacturing and R&D Footprint in New Jersey
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
BeiGene (NASDAQ: BGNE) has reached a significant milestone in the construction of its flagship manufacturing and R&D facility in Hopewell, NJ. The project, first announced in 2021, will feature 400,000 square feet of commercial-stage biologic pharmaceutical manufacturing space, with potential for future expansion. The total investment is approximately $700 million, with completion expected next year. As part of this initiative, BeiGene plans to hire nearly 100 employees by the end of 2023. This facility will enhance BeiGene's capabilities in developing affordable oncology medicines, complementing its global operations.
Positive
Completion of construction for a 400,000 square foot facility in Hopewell, NJ.
Total investment in the project is approximately $700 million.
Plans to hire nearly 100 employees by the end of 2023, enhancing local job creation.
Expansion capabilities for future growth in biologics manufacturing.
Negative
None.
Company Hits Construction Milestone for Flagship Manufacturing and R&D Facility in Hopewell
BASEL, Switzerland & BEIJING & CAMBRIDGE, Mass.--(BUSINESS WIRE)--
BeiGene (NASDAQ: BGNE; HKEX: 06160; SSE: 688235), a global biotechnology company, is entering a new phase as it continues to build its U.S. presence. The company announced today that the last piece of structural steel will be laid at its Hopewell, NJ campus today. This new facility will provide state-of-the-art commercial-stage U.S. biologic pharmaceutical manufacturing, late-stage research and clinical development capabilities that complement the company’s existing capabilities around the world.
Aerial view of the 400,000 square foot manufacturing and R&D center BeiGene is building in Hopewell, NJ. (Photo: Business Wire)
“The progress we are making in building our flagship U.S. biologics manufacturing and R&D facility at the Princeton West Innovation Campus is especially important to BeiGene as we continue to expand our global business through new approvals, including the FDA’s recent approval of BRUKINSA for adult patients with CLL in the U.S.,” said John V. Oyler, co-founder, chairman and CEO of BeiGene. “Adding these manufacturing and R&D capabilities in the U.S. is a major step toward fulfilling our vision to create impactful medicines that will be affordable and accessible to far more cancer patients around the world.”
The new campus will have approximately 400,000 square feet of dedicated commercial-stage biologic pharmaceutical manufacturing space with the ability to add 600,000 more over time. First announced in 2021, BeiGene’s investment in this project is expected to total approximately $700 million. Construction is expected to be complete next year.
“Serving the needs of cancer patients requires a focus on the big picture without losing sight of the needs of the individual patient,” said Amy J. Sutton, CEO of Crossroads4Hope, A Network of Cancer Support, a nonprofit organization committed to transforming the cancer experience for patients and their families across New Jersey. “While BeiGene’s new center will undoubtedly address that big picture by developing and manufacturing new medicines, as advocates we truly appreciate the company’s partnership in supporting and listening to people affected by cancer.”
As construction continues, BeiGene is already beginning to hire, with nearly 100 employees expected by the end of 2023 and more to come once construction is complete. The company is actively working with local business groups, educational institutions, and industry associations to tap into this community’s deep life sciences talent pool.
“Hopewell Township is pleased to see BeiGene following through with its plans to build a state-of-the-art center here,” said Hopewell Township Mayor Michael Ruger. “We are excited that our talented and experienced workforce will have the opportunity to help BeiGene develop and manufacture lifesaving medicines.”
To celebrate this construction milestone, the company held a “topping off” ceremony during which local officials, patient advocates and BeiGene colleagues signed the last steel beam to be put in place.
Drone footage of the steel beam being lowered into place will be available upon request after the ceremony.
About BeiGene
BeiGene is a global biotechnology company that is developing and commercializing innovative and affordable oncology medicines to improve treatment outcomes and access for far more patients worldwide. With a broad portfolio, we are expediting development of our diverse pipeline of novel therapeutics through our internal capabilities and collaborations. We are committed to radically improving access to medicines for far more patients who need them. Our growing global team of more than 9,000 colleagues spans five continents, with administrative offices in Basel, Beijing and Cambridge, Mass. To learn more about BeiGene, please visit www.beigene.com and follow us on Twitter at @BeiGeneGlobal.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including statements regarding BeiGene’s progress in building the new manufacturing and clinical R&D center in New Jersey and BeiGene’s ability to manufacture commercial-stage medicines and drug candidates at the site, the ability of the site to complement BeiGene’s existing capabilities, BeiGene’s ability to obtain additional regulatory approvals for medicines, the potential for the site to create affordable and accessible medicines, the expected size of the site and potential for future expansion, the expected timing for completion of construction, BeiGene’s anticipated investment in and recruiting and hiring of talent for the new manufacturing and R&D center, and BeiGene’s plans, commitments, aspirations, and goals under the heading “About BeiGene.” Actual results may differ materially from those indicated in the forward-looking statements as a result of various important factors, including BeiGene's ability to demonstrate the efficacy and safety of its drug candidates; the clinical results for its drug candidates, which may not support further development or marketing approval; actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials and marketing approval; BeiGene's ability to achieve commercial success for its marketed medicines and drug candidates, if approved; BeiGene's ability to obtain and maintain protection of intellectual property for its medicines and technology; BeiGene's reliance on third parties to conduct drug development, manufacturing and other services; BeiGene’s limited experience in obtaining regulatory approvals and commercializing pharmaceutical products and its ability to obtain additional funding for operations and to complete the development of its drug candidates and achieve and maintain profitability; and the impact of the COVID-19 pandemic on BeiGene’s clinical development, regulatory, commercial, manufacturing, and other operations, as well as those risks more fully discussed in the section entitled “Risk Factors” in BeiGene’s most recent annual report on Form 10-K, as well as discussions of potential risks, uncertainties, and other important factors in BeiGene's subsequent filings with the U.S. Securities and Exchange Commission. All information in this press release is as of the date of this press release, and BeiGene undertakes no duty to update such information unless required by law.
