- POSTED: 07 Aug 2014 22:45
- UPDATED: 07 Aug 2014 23:21
According to the Economic Development Board the move reinforces Singapore's leading position in biologics processing.
SINGAPORE: US-based biomedical firm, Baxter, has officially opened its biologics facility in Singapore on Thursday (Aug 7). The new S$370 million facility supports the processing of Advate - a drug used for the treatment of bleeding disorder, haemophilia A. It wants to cater to the unmet needs of haemophilia patients in the region.
Said Mr Jean-Luc Butel, Corporate Vice President and President of Baxter's International Operations: "In many areas of Asia you still have very low penetration rates. And so those standards of care, while they're evolving into the right direction, they're still in some areas low. So if you bring an investment of S$370 million here, and you increase your capacity by 50 per cent, you have to believe there's a bright future, certainly in the region for those therapies. So we see the growth of the industry, not only from an investment point of view for Singapore, but in terms of reaching more patients."
The new plant will be the latest to join eight other biologics facilities in Singapore. EDB says Baxter's expansion here is in line with its focus to drive growth in the biomedical sciences sector.
"Today we have nine world-class biologics facilities - seven companies, we are working on a few other projects in the pipeline, and I think the prospects look very good," said Managing Director of the Singapore Economic Development Board Yeoh Keat Chuan.
"The sector has grown by almost four times in output since we began a concerted effort in the year 2000. The sector employs about 16 000 people in Singapore today, and Baxter's announcement, which fits in with the growing biologics pillar, will add another few more 100 jobs, and we expect at least at least 700 to 1,000 new jobs to be created over the next two to three years in the biologics sector."
The biomedical cluster contributed to about 10 per cent of Singapore's manufacturing output in 2013.