Companies / Singapore
Second Phase Of Biomedical Initiative Under Way
November 2006 | Company Finance AlertSingapore has completed the first phase of its Biomedical Science (BMS) initiative, and is keen to push on to phase II, which will have government investment of US$1.4bn. Under the initial plans, which ran from 2000-2005, Singapore grew its drug manufacturing output to SGD18bn (US$11.61bn), 50% higher than its target of SGD12bn (US$7.74bn). Meanwhile, eight out of the top 20 drugmakers have facilities in the country, although mainly to produce active pharmaceutical ingredients (APIs).
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