Singapore becomes home-base of biomedical firms

In 2009 biomedical sciences investments amounted to S$1.2 billion in total fixed asset investment and S$700 million in total business spending.

According to the Singapore Economic Development Board (EDB), "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)."

Singapore's biomedical manufacturing output in 2009 grew steadily to about S$21 billion and employed more than 13,000 people. Current investments, when fully implemented, will create more than 1,600 jobs for professionals, managers, engineers, research scientists and engineers, and skilled workers.

Mr Julian Ho, EDB Assistant Managing Director, 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 capitalise on Asia’s growth story."