SPEECH BY MR LIM HNG KIANG, MINISTER TRADE & INDUSTRY, AT THE OPENING OF BIOMEDICAL ASIACONFERENCE 2008, ON TUESDAY, 15 APRIL 2008 AT 8.45 AM

Distinguished guests,

Ladies and gentlemen,

Good morning.

It gives me great pleasure to welcome you to the 2008 Biomedical Asia Conference. This Conference is unique in drawing its context from the Asian environment to address global challenges in the biomedical sciences industry. As international companies look to Asia, and Asian companies step-up to the global stage, this year’s Conference and future ones look to be exciting indeed.

Introduction: Dramatic Growth of Healthcare Demand in Asia

Within the next decade, we will see Asia emerge as a global powerhouse in the biomedical sciences industry. The sheer size of its market, talent and resource base cannot be ignored. What distinguishes Asia though, is its sheer diversity - of political systems, culture, and economic development. This presents monumental challenges, as well as tremendous opportunity for those who dare to think differently.

Such opportunities are driving Asian conglomerates to invest in biotech ventures. These include Kirin, LG, Mitsui & Co., Tata, Reliance, and Samsung, just to name a few. Similarly, established international players are actively placing bets in Asia and growing their Asian franchises. For example, through its Singapore center, Eisai is driving an increasing number of clinical trials in Asia. Wyeth’s chemistry collaborations in India, and Roche and Novartis’ R&D centers in China further demonstrate that Asia’s burgeoning talent and capabilities cannot be ignored.

Anticipating a wave of investment, Asian countries are developing infrastructure to facilitate biomedical manufacturing and R&D activities. Likewise, Singapore has invested over S$3 billion in the biomedical sciences initiative which was launched in 2000.This includes a second tranche of S$1.5 billion in 2006 to build up our translational and clinical sciences capabilities.

But Asia as a playing field is complex and dynamic. Success will depend on an in depth understanding of local cultural conditions and regulatory regimes. To harness the tremendous growth opportunities in Asia in healthcare provision, extensive and intensive partnerships between the public and private sector, and collaboration between governments in the region, would be required.

Singapore can be the catalyst for the pan-Asia partnership process. We have witnessed an increasing number of such partnerships to address Asia’s healthcare needs. Companies in Singapore have also found that the best way to access Asia’s talent and markets, is to work with Asia, and work within Asia. Allow me to illustrate with a few examples:

First, the Pan-Asian SNP Initiative was formed in 2004 to create a publicly-available database cataloguing the genetic diversity of Asians. It lays the ground for a better understanding of Asian genetics, hopefully providing future answers to questions like why hepatitis B is endemic in Asia, why nose cancers are common here but not in the West, and why Asian diabetics do not always respond to treatments developed for Caucasians. This collaboration involves labs across Asia, including the Genome Institute of Singapore as a founding partner, and addresses a uniquely Asian need.

Second, the Singapore-based Novartis Institute of Tropical Disease, or NITD, inked a deal with two Indonesian organizations, the Eijkman Institute and Hasanuddin University early last year. The 3 partners will form a joint research initiative to recruit top scientists from Indonesia, and also bring NITD researchers to the disease frontlines by providing them access to patients in an operational hospital setting. NITD is also part of the Singapore Dengue Consortium which aims to better understand and manage dengue infection and ultimately minimize the incidence of dengue. Such complementary partnerships are important steps towards resolving some of Asia’s most pressing healthcare priorities.

Third, multi-national pharmaceutical companies such as J&J and GSK joined hands in March this year to establish the Singapore Academy for GXP Excellence (or SAGE), within the National University of Singapore. Under this framework, faculty members will be drawn from academia, health authorities, and major industry players from across the region and the world. This comprehensive partnership ensures alignment with international standards as well as local practices, and will develop 500 professionals each year in various good industry practices, or GXP, to address the growing demand for talent in Asia.

Fourth, just last month, physicians from the Shanghai TCM Hospital and Singapore’s General Hospital announced a series of trials designed to shed light on how traditional remedies function compared with western drugs. The first trial aims to compare treatments which protect the kidneys of diabetic patients to prevent diabetes-related kidney failure. In the future, this approach will be used for other diseases such as cancer and other chronic diseases. With Asia’s increasing disease burden, this East-meets-West, cross-country partnership approach may hold the key to the region’s burgeoning healthcare needs.

In conclusion, the rise of Asia presents a crucible of change for regional healthcare policy-makers and the global biomedical sciences industry. The biomedical industry is in a privileged position to pioneer solutions to some of the most pressing healthcare needs of our time, but it must work in a networked fashion with local players to do so effectively.

Singapore offers a unique vantage point between the East and West, an international cross-roads and ideas exchange, with numerous regional and international partnerships mooted, discussed, and brokered here. In particular, Singapore’s own multi-ethnic population provides a window into the future of Asia - both its opportunities and its challenges. This makes Singapore a natural location to test-bed and develop new solutions together with regional and global partners.

It is in this spirit that we present the 4th Biomedical Asia Conference. I hope you will be able to make connections with like-minded individuals here, further your scientific and business aspirations, and forge partnerships that will make a difference to the lives of millions of people living in Asia. Thank you, and I wish everyone a great stay in Singapore.