v3.25.2
Property, Plant and Equipment, Net
 6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net Property, Plant and Equipment, Net
Property, plant and equipment, net are recorded at cost and consisted of the following:
 As of
 June 30,December 31, 
 20252024
 $$
Land71,434 65,485 
Building932,950 607,857 
Manufacturing equipment258,737 244,255 
Laboratory equipment270,224 240,885 
Leasehold improvement74,476 64,680 
Software, electronics and office equipment107,340 100,348 
Property, plant and equipment, at cost1,715,161 1,323,510 
Less: accumulated depreciation(453,031)(399,105)
Construction in progress353,662 654,018 
Property, plant and equipment, net1,615,792 1,578,423 
The Company has made a significant investment in its newly opened manufacturing and R&D center in Hopewell, New Jersey. In the six months ended June 30, 2025, $334,635 of assets were placed into service. As of June 30, 2025, the Company had construction in progress of $189,674 related to the Hopewell facility, the majority of which will be put into service in 2025.
Depreciation expense was $29,854 and $61,468 for the three and six months ended June 30, 2025, respectively, and $23,754 and $47,864 for the three and six months ended June 30, 2024, respectively.