Singapore (PRWEB) June 16, 2009
Singapore's pharmaceutical industry has moved into higher gear, with the opening of a state-of-the-art vaccine plant. The new plant is GlaxoSmithKline's (GSK) first primary vaccine manufacturing facility and its biggest investment in Asia. The plant, which involves a total investment of S$600 million, underscores GSK's strong commitment to Singapore.
GSK will initially employ about 200 staff and the company is investing in training and development to equip them with the skills and knowledge to operate the new facility.
In addition, as part of an ongoing effort to develop talent and leadership in Singapore, GSK is setting up a $30 million endowment fund here to nurture minds in the fields of green manufacturing and public health policy. The Singapore Economic Development Board (EBD) will boost the fund by a further $20 million.
GSK has had a strong presence in Singapore for the last 50 years since 1959. Besides the local pharmaceutical and consumer healthcare operations, Singapore serves as the headquarters for GSK's Asia-Pacific operations and houses the Singapore Research Centre at Biopolis. In addition to this new vaccine plant, GSK has two global manufacturing and supply sites located in Singapore. With more than 1000 staff, GSK's total investment in the city-state now exceeds S$1.5 billion.
Asia is emerging as a global powerhouse in the biomedical sciences industry, with its fast-expanding market and massive talent base. As a leading bio-cluster in Asia, Singapore provides access to world-class scientific and clinical excellence, excellent connectivity to key regional markets as well as strategic partnership opportunities with research institutes, corporate labs and public hospitals.
Leveraging Singapore's strong scientific and economic fundamentals, global biomedical sciences companies invested more than $500 million here in the year 2008 alone. A growing base of more than 50 global pharmaceutical, biotechnology and medical technology companies are carrying out R&D in Singapore, alongside 30 public-sector research and medical institutes. Amongst them, more than 10 leading multi-national companies have established their regional headquarters in Singapore. They include AstraZeneca, Bayer, Boehringer-Ingelheim, Bristol-Myers Squibb, Genzyme, GlaxoSmithKline, Merck, Quintiles and Sanofi-Aventis. Their continued confidence is testament to Singapore's position as a leading global manufacturing site for innovative medicines.
For more information about Singapore's biomedical sciences sector, log on to the Singapore Economic Development Board's website at http://www.edb.gov.sg/edb/sg/en_uk/index/industry_sectors/pharmaceuticals__/industry_background.html and the Agency for Science, Technology and Research's website at http://www.a-star.edu.sg.
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