Minister Explains Singapore Pharma Industry Strategy

Cumulative fixed asset investment in Singapore's pharmaceutical industry is projected to increase from about S$780 million ($558.2 million) in 1994 to over S$1.1 billion by the end of 1996, an increase of close to 50% over two years, said the Republic's Minister for Trade and Industry, Yeo Cheow Tong.

Speaking at the groundbreaking ceremony for Glaxo Wellcome's new $80 million development facility at the company's Jurong plant, Mr Yeo said Singapore "needs to continue strengthening our position as a strategic base for the world-scale manufacture of pharmaceutical active ingredients, and move into additional innovation-intensive activities." This will also benefit existing manufacturers, he added, "as it will broaden and deepen the pool of skills and scientific personnel, as well as strengthen the range of supporting industries and services for the industry."

To achieve these objectives, Singapore has identified three key development thrusts, he said, First, in addition to the manufacture of active ingredients, it will encourage investment in bioprocessing activities for the manufacture of biopharmaceuticals, vaccines and other biological products for global markets. Biotechnology is a key enabling technology for the pharmaceutical industry, Mr Yeo noted. The National Biotechnology program, started in 1988, he said, has resulted in a steady supply of graduates in this field of technology from Singapore Polytechnics and the National University.