Mr Lee Yi Shyan at the BioBiz 2008

Speech by Mr Lee Yi Shyan, Minister of State for Trade and Industry at the BioBiz 2008 on Saturday, 29March 2008, 9am at Bio polis

Prof Tan Chorh Chuan, Deputy Chairman, A*STAR

Distinguished speakers and guests,

Ladies and Gentlemen

Good Morning. I am delighted to join you at this morning’s BioBiz 2008, an event organized by students for students. After all, who will better know the needs and interests of today’s students other than the students themselves?

Industry Outlook

As students, many of you would be thinking about your career options. Perhaps in the larger context of what you want to achieve in life? Can you find a career that is challenging? Doing something meaningful and that will give you much satisfaction? Can you grow on the job? Will you be well-paid? These might be some of the questions going through your mind right now. To provide answers to these questions, today’s event would be a useful platform for you. It will provide an opportunity to learn from the industry professionals on what may be in store for you.

The Biomedical Sciences industry has many distinctive characteristics. One of the most important features is its desire to make a direct impact on the health and well-being of people. From undertaking cutting-edge research to being part of the drug manufacturing process, the Biomedical Sciences is quite an extraordinary field to devote one’s career to. But first, let’s see where the industry is in terms of growth and attractiveness.

The Biomedical Sciences industry is now the second largest contributor to Singapore’s GDP within the manufacturing sector. Last year, we attracted more than S$900 million worth of fixed assets investments[1].Our total manufacturing output for this industry also increased four times from S$6.3 billion in 2000 to S$24 billion in 2007.On the research end, we have attracted four major corporate R&D labs and more than 20 world’s leading biotech companies to Singapore since 2000.In 2006, our gross expenditure on R&D reached S$1.1 billion, an increase of more than S$200 million as compared to 2005.In addition, the number of researchers in Singapore also increased by close to 300 to reach 2000 in 2006[2].

More importantly, the industry has grown significantly and is now contributing 5.9% of Singapore’s manufacturing GDP. In the process, it also created a good pool of well-paying jobs. Over the past few years, more than 4000 people joined the rank and file of the pharmaceutical and biologics manufacturing activities. In fact, more than 2000 new manufacturing positions and more than 500 new research positions will be opened up over the next three years due to new investments that have been made in Singapore.

Interesting, Dynamic Jobs for Everyone

Having a career in the Biomedical Sciences industry is not just about working in a laboratory. We have been working closely with top industry players to set up a wide spectrum of operations in Singapore. For the industry to grow, we will need students like you to acquire the necessary knowledge, invest time and commitment in this industry.

The Biomedical Sciences industry is never lack of exciting things to do. There is a whole host of career choices and positions from which you could make a meaningful contribution to.

For those who have a passion in drug discovery research, you may find yourself working in a laboratory for a multinational pharmaceutical company, or a biotech start-up. Depending on your interests, you could find yourself working with live organisms or cracking your heads to synthesis new chemical compounds.

Once a new drug is discovered, more work has to be done to ensure that it is effective and safe for patients. Those who work in this area will design, conduct or manage clinical studies of these drugs in research organizations.

After the drug is deemed safe and effective, you will need to design and optimize drug manufacturing processes in large batches. Those with engineering backgrounds and are interested in R&D will find it exciting to work in an R&D pilot plant or a process laboratory.

Given the impact on people’s health and well-being, drug manufacturing plants need to be run at the strictest quality standards. Therefore, within the manufacturing facility, we will need engineers who derived job satisfaction from ensuring quality control. Consider the example of Ms Tan Li Xuan who, armed with a Bachelor of Science in Biological Sciences from NTU two years ago. She was offered a job by a multinational firm even before graduation. She now works in the company’s US office, handling different aspects of pharmaceutical development and cutting-edge pharmaceuticals. Of course, we don’t want her to over-stay in the US but come back with an enriched experience to contribute to the growth of our industry.

This morning, I read with interests the story of Mr Goh Yong Keng in the Straits Times. Trained as a mechanical engineer, Yong Keng joined the industry since the 1980s and has worked in two pharmaceutical companies. To him, this industry offers interesting opportunities for one to work with their hands and apply quick thinking to troubleshoot. For those who love to solve problems, process engineering in a pharmaceutical company might be a rewarding choice.

Last but not least, a drug is not ready to be sold to patients until it is carefully screened and tested to ensure that it is safe, effective and produced with the highest quality standards. For those with a life sciences or pharmacy background and with a keen attention to detail, may be interested in working in this area.

I wanted to round off with a story of Ms Yong Hwee Yee, who has a very successful career in the pharmaceutical industry. Wee Yee started as a Chemist 14 years ago and is now a R&D director of a multi-national pharmaceutical company. She oversees the up-scaling of the manufacturing processes from laboratory synthesis to large scale manufacture of products. She moved to her current position because she was constantly stretching her abilities and looking for opportunities to grow. With determination and passion, I am sure many of you will become as successful as Hwee Yee.

Conclusion

The Biomedical Sciences industry is a knowledge intensive industry. It is the kind of industry that will steer Singapore into a bright future. I therefore urge you to make use of this valuable opportunity at the BioBiz to interact, learn and explore. Together, we can create our future.

Thank you.

[1] FAI from BMS manufacturing: S$932 million
[2] Number of Researchers: 1732 (2005), 2023 (2006)