SPEECH BY Mr. LIM HNG KIANG, MINISTER FOR TRADE & INDUSTRY, SINGAPORE, AT THE OPENING CEREMONY OF THE ABBOTT NUTRITION SINGAPORE MANUFACTURING PLANT ON THURSDAY 26 FEBRUARY 2009, AT 11.05 A.M. IN TUAS BIOMEDICAL PARK 2
Your Excellencies,
Mr. Miles White, Chairman and Chief Executive Officer, Abbott,
Distinguished Guests,
Ladies and Gentlemen,
Good morning. It gives me great pleasure to join you today for the opening of the Abbott Nutrition Singapore Manufacturing Plant.
Abbott has been a long-time partner of Singapore, having established its presence here in 1970. The company has established a regional headquarters that oversees its diverse business units in diagnostics, diabetes, pharmaceuticals and nutrition. Just last month, Abbott opened its first pharmaceutical analytical research laboratory in Southeast Asia at the Bio polis. Today, we celebrate another significant milestone in the Singapore-Abbott partnership with two strategic investments:
·One, the opening of your largest nutrition manufacturing facility worldwide which will serve key Asian markets.
·And two, to complement your manufacturing facility, the establishment of a nutrition science R&D center in Singapore that will develop products tailored to Asian dietary needs.
Indeed, Abbott’s latest investments in nutrition manufacturing and development are driven by the expanding market opportunities in Asia for global pharmaceutical companies. In this respect, companies can leverage on Singapore’s strengths to harness the region’s growth potential.
First, leveraging Singapore’s scientific and clinical competence, we present a living lab for companies and scientists to develop innovative solutions and more effective therapies for the region. Since 2006, Singapore has invested S$1.55 billion in driving translational clinical research, to bring discoveries from bench to bedside and ultimately to the market. Today, we have put in place key research infrastructure and capabilities to gather new insights in Asian disease biology, and develop more efficient healthcare systems for Asian markets.
Second, multi-national companies based in Singapore are able to tap into a pool of partnerships to help them access Asia. For example, the Genome Institute of Singapore is a founding member of the Pan-Asian SNP Initiative which aims to develop a public database cataloging the genetic diversity of Asians. In another example, the Singapore General Hospital is leading a study on metabolic risks in Chinese, Malays and Indians, and extending this to the collection of actual pharmaco-economic and healthcare utilization data in a number of Asian countries.
Third, companies can draw on Singapore as a springboard to launch their products to patients and consumers in the region. Singapore’s multi-ethnic population, which comprises the key Asian ethnic groups of the Chinese, Indians and Malays, presents a window into Asia’s markets. Asia consists of diverse markets where the consumer needs for one region may differ from another. As such, Singapore provides a unique vantage point for the more than 20 leading global biomedical sciences companies already here to carry out strategic planning and marketing for the Asia region.
The importance of Asia presents a crucible of change for the global biomedical sciences industry. Asia’s complexity and dynamics present some of the most pressing healthcare needs of our time, whilst offering tremendous opportunity for those who dare to think differently. By virtue of geographic location and historical economic development, Singapore is uniquely positioned between East and West as an international cross-roads and ideas exchange, with numerous regional and international partnerships mooted, discussed and brokered here.
Abbott, as a diversified healthcare company with businesses spanning pharmaceuticals, nutrition, and diagnostics, is well-poised to serve Asia’s diverse needs. We are delighted that you have chosen Singapore to be your strategic beach-head into Asia. With our brand quality of safety and reliability, we are confident that Abbott’s deep association with Singapore will augment the reputation of its product in Asia.
In closing, I would like to extend my heartfelt congratulations to the management and staff of Abbott. On this note, it is my pleasure to declare this manufacturing plant open. I wish you every success and look forward to the next generation of Abbott products which will be discovered, developed and manufactured in Singapore - for the regional and global markets. Thank you.