As one of Singapore’s pioneering investors in the biomedical sciences sector, Baxter has continued to extend and expand its global manufacturing base and now employs 1,700 employees in Singapore. Its Singapore facility is also the company’s largest producer for Intravenous (IV) sets and amongst the top three infusion pump manufacturers in the world. This translates to an annual production of more than one-hundred and forty million units of pumps, administration sets, and solution bags, which are exported to more than sixty countries.

Singapore: Asia’s base for Biologics Manufacturing

In addition to these significant operations, Baxter is further extending into biopharma manufacturing, which includes products for both biologic and recombinant therapies. This investment will be Singapore’s sixth biologics manufacturing plant and is slated to employ about 230 highly skilled workers. Together with companies such as Genentech, GlaxoSmithKline and Lonza, Baxter’s announcement will reinforce Singapore’s position as Asia’s base for biologics manufacturing.

Based on distribution, Baxter’s Advate is the world’s most chosen recombinant FVIII (“Factor-Eight”) therapy for hemophilia, and since its introduction in 2003, more than five billion international units have been distributed world wide. Baxter’s choice to locate its first Advate facility in the Asia-Pacific region here in Singapore is the best kind of testimony from a satisfied partner. It is a strong endorsement of our excellent intellectual property protection regime, sophisticated infrastructure and a skilled manpower base to support the production of the industry’s most innovative products. Companies like Baxter also count on Singapore’s stable political and civic environment to ensure returns on such long-term and capital-intensive investments.

Strengthening Singapore’s Manufacturing Base

In 2008, Singapore’s biomedical sciences sector contributed S$19 billion in manufacturing output while providing employment for some 12,450 people. As global companies such as Baxter, Illumina, and Abbott locate their key global and regional manufacturing sites in Singapore, we are confident of achieving our target of S$25 billion in manufacturing output by 2015 and increasing employment in the sector to 15,000 employees. Against the backdrop of a challenging economic environment-in this year alone, we expect to add another 900 jobs to this sector.

Singapore’s Commitment to Talent Development

We recognize that skilled manpower is a critical success factor for biomedical sciences manufacturing. In response to this need, leading industry players have collaborated with the National University of Singapore to launch the Singapore Academy of GxP Excellence, which helps to upgrade employees’ skills, promote best practices and train new entrants who are interested to join the industry.

In addition, the Singapore Government has also introduced broad-based initiatives earlier in this year’s Budget announcement to help companies address the cost of wages and support them in capability development. These initiatives include the Jobs Credit Scheme and the Economic Development Board’s PREP-UP initiative, which will help companies to capture opportunities to prepare for the upturn.

In closing, let me congratulate the management and staff of Baxter on the groundbreaking of your new biopharma facility. This expansion marks the start of a new chapter in the Baxter-Singapore story, and you can be assured that we are committed to this long-term strategic partnership.

Thank you.