Germany-based company Merck is set to invest €250m ($275.5m) in a new Biotech Development Center at Corsier-sur-Vevey in Switzerland.
In addition to biotech development, the facility will focus on manufacturing for clinical studies.
The investment is said to be supported by the growth of the research and development (R&D) pipeline under the healthcare business.
Merck intends to leverage the plant for sustainable capacity and ability to deliver clinical trial material cost-effectively.
The company also expects to meet the development timelines of new biological entities and cater to rising manufacturing complexity of novel biotech compounds.
Merck CEO and executive board chairman Stefan Oschmann said: “This investment in the Merck Biotech Development Center reflects our commitment to speed up the availability of new medicines for patients in need, and confirms the importance of Switzerland as our prime hub for the manufacturing of biotech medicines.”
The facility will be constructed near the company’s existing biotech commercial manufacturing site in Corsier-sur-Vevey, Switzerland.