Singapore, Mar 18, 2010: Biomedical sciences investments in Singapore amounted to S$1.2 billion in total fixed asset investment and S$700 million in total business spending in 2009. When fully implemented, it will create more than 1,600 jobs for professionals, managers, engineers, research scientists and engineers, and skilled workers. The investments will also contribute S$1.3 billion in value-added per annum. The biomedical manufacturing output grew steadily to about S$21 billion in 2009.

In 2009, the global biomedical sciences companies strengthened their partnerships with Singapore to address the industry’s challenges and Singapore is well-positioned to be their home-base to harness Asia’s growing opportunities.

Speaking to the media, Mr Julian Ho, Assistant Managing Director, Singapore Economic Development Board (EDB) said, “The global biomedical sciences industry is confronted with the need to improve R&D productivity. At the same time, they need to navigate Asia’s complexities and diversity to effectively tap into the region’s fast-growing markets. As Asia’s leading bio-cluster, Singapore is well-positioned to help biomedical sciences companies accelerate their innovation and capitalize on Asia’s growth story.”

“In 2009, global biomedical sciences companies have located strategic functions in Singapore that include regional headquarters (e.g. Medtronic, Quintiles, Takeda), first-in-Asia and global manufacturing facilities (e.g. GlaxoSmithKline, Illumina, Lonza, Medtronic, ResMed, Roche) and R&D bases in Asia (e.g. Abbott, 3M, Merck, Roche, Inviragen, FORMA). These investments will strengthen Singapore’s position as a strategic home-base to drive biomedical sciences companies’ business expansion and innovation in Asia,” noted Mr Beh Kian Teik, Director, Biomedical sciences, Singapore EDB.

Singapore presents key advantages for companies that seek to address the impending patent cliff and develop innovative medical devices for Asia. Leading companies (e.g. AstraZeneca, Bayer, Lilly, Roche) are partnering Singapore’s nationwide research network that integrates the country’s multidisciplinary scientific and clinical capabilities. In addition, medical technology companies (e.g. 3M, AB Sciex, Hill-Rom, Welch Allyn) are tapping into Singapore’s scientific and engineering capabilities to carry out value engineering and develop cost-effective products that can address Asia’s healthcare needs. More than 4,300 researchers are carrying out biomedical sciences R&D in 50 companies and 30 public-sector institutes that expend more than S$1 billion each year in R&D.

“Singapore is committed to be in time for the future and is working with companies to create value, especially as biomedical sciences companies seek to optimize their global manufacturing operations while harnessing Asia’s fast-growing markets. These partnerships include EDB’s collaboration with GlaxoSmithKline to build up capabilities and develop solutions in sustainable manufacturing, and local suppliers’ partnerships with MNCs to enhance their capabilities under EDB’s new Partnerships for Capability Transformation (PACT) program,” added Mr Beh.

“The biomedical sciences sector provides exciting and meaningful jobs in a broad spectrum of activities across manufacturing, R&D and business management in headquarters for Singaporeans across all education levels. It is an opportunity for Singaporeans to participate in shaping the future of human healthcare,” added Mr Ho.