IX Biopharma to Relocate Manufacturing Equipment to US; Shares Fall 8%

MT Newswires06-16

IX Biopharma (SGX:42C) will relocate its manufacturing equipment from its facility in Australia to a 503B-licensed plant in Nevada, U.S., according to a Monday filing with the Singapore Exchange.

Shares of the healthcare services company were down over 8% in Tuesday's late-morning trading.

The plant is managed by the company's joint venture partner, Orion Specialty Labs, and the relocation is expected to be completed in the third quarter of the year.

The move also comes after the company secured a $41 million US Department of Defense contract.

The relocation comes in the wake of the US unveiling tariffs of up to 100% on pharmaceutical imports from Australia.

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