Cutting-edge research infrastructure, a fantastic biomedical talent base and conducive policies — these are the three major things that a country needs to set itself up as a pharmaceutical hub. Singapore checks all the boxes.
The pharmaceutical sector is thriving globally, thanks to the changing needs of the young generation, the requirements of an ageing population, and the increasing demands for new medicines and better healthcare products. As one of the most developed countries in the region, Singapore offers an attractive base for biomedical research and development, production, and distribution. Its location also makes the country a gateway to the entire South East Asian region. As a result, some of the top names in the pharmaceutical sector have set up shop in Singapore in the past few years.
The pharmaceutical sector also receives immense government support in Singapore. As per the Research, Innovation and Enterprise (RIE) 2020 plan, the government intends to invest S$4 billion in health and biomedical sciences, and S$3.2 billion in advanced manufacturing and engineering. It is also sponsoring initiatives like Professional Conversion Programmes (PCP), which help train and up-skill employees and prepare them to take on the jobs that are opening up in the pharmaceuticals and biologics sectors.
Given this rapid evolution, it is worth delving into what it takes to design and set up a pharmaceutical facility in Singapore.