​SPEECH BY DR KOH POH KOON, MINISTER OF STATE, MINISTRY OF TRADE AND INDUSTRY AT THE GROUNDBREAKING CEREMONY OF MUNDIPHARMA’S GLOBAL CONSUMER HEALTHCARE MANUFACTURING AND R&D HUB ON FRIDAY, 13 MAY 2016, 3:15PM, PLOT 4, TUAS SOUTH LINK 2

 

Mr Raman Singh, President, Mundipharma Asia Pacific, Latin America, Middle East and Africa

 

Distinguished guests,

 

Ladies and Gentlemen,

 

Good afternoon. 

 

Introduction

1.           I am pleased to join you today at the groundbreaking ceremony of Mundipharma’s Global Consumer Healthcare Manufacturing and R&D Hub. This hub will be Mundipharma’s leading product development site for its global consumer healthcare business, as well as the key manufacturing plant for its flagship product, BETADINE®. This investment in Singapore will better position Mundipharma to capture the growth opportunities and meet the rising healthcare needs of emerging markets.

 

Emerging markets present growth opportunities, but can also be challenging for companies to operate in.

2.           With growing populations and rising affluence, healthcare spending in emerging markets is expected to grow rapidly. For instance, healthcare spending in India is projected to grow at a compound annual growth rate (CAGR) of 16.1% from 2016 to 2019, compared to a CAGR of 4.3% for healthcare spending globally[1].  

3.           Although emerging markets present growth opportunities for healthcare companies, they can also be difficult to operate in.  For example, companies often face challenges in navigating fragmented regulatory landscapes, accessing quality talent, as well as identifying sufficient research and innovation capabilities.

Healthcare is a growth sector for Singapore. We are committed to invest in research and innovation, as well as talent development to partner companies to better access the growth opportunities in emerging markets.   

4.           Healthcare is one of the growth sectors that the Committee on the Future Economy (CFE) has been actively exploring. The government will continue to invest in research and innovation, as well as developing the talent pool to support the growth of this sector.  Companies can therefore leverage Singapore as a base to better access the growth opportunities in emerging markets.

 

Research and Innovation

5.           One way to do this is by leveraging Singapore’s well-established science and research ecosystem, with a strong network of both public research and academic institutes.

6.           We remain committed to research and innovation, which will become an increasingly important engine of growth for Singapore.  To this end, the government will be investing S$19 billion over the next 5 years in science and technology research under the Research, Innovation and Enterprise (RIE) 2020 plan, including S$4 billion in the Health and Biomedical Sciences domain.

7.           We will also continue to facilitate partnerships between the industry and our public research and academic institutes.  The Novartis Institute of Tropical Diseases (NITD), which has been collaborating with A*STAR, advanced its first-in-class drug against malaria to Phase IIa trials.  Bayer Healthcare, in partnership with several local research and academic institutions, established the Integrated Translational Oncology Network to further enhance R&D in Asian prevalent cancers.  Last year, Bayer Healthcare announced that the network would be expanded to also work on heart and eye diseases.

 

Talent Development

8.           In all these efforts, talent is key. Singapore has built up a highly skilled workforce through its strong network of public research and academic institutes. We will continue to work with the industry and Institutes of Higher Learning to develop specialised training programmes to meet the needs of the industry.

9.           For example, the Centre of Regulatory Excellence, in collaboration with the Health Sciences Authority and Duke-NUS Medical School, has been training regulatory talent with a deep understanding of the regulatory environment in the region. Temasek Polytechnic and Singapore Polytechnic, in partnership with the industry, also offer overseas and local training programmes to equip their students with relevant skillsets in biologics manufacturing. 

10.       Companies can leverage our research and innovation infrastructure, as well as talent base to co-locate commercial, manufacturing and R&D activities in Singapore.  This allows companies to be more effective in addressing market needs, as market insights from the commercial functions can be quickly incorporated into their R&D and manufacturing plans.

11.       With the establishment of this Global Consumer Healthcare Hub, along with its existing headquarters in Singapore, Mundipharma will have a full range of commercial, manufacturing and R&D activities in Singapore. This will better position Mundipharma to capture the growth opportunities in the region and emerging markets.

 

Conclusion

12.       In closing, let me thank Mundipharma for your strong vote of confidence in Singapore. Congratulations to the Mundipharma team on the opening of this Global Consumer Healthcare Hub, and I wish you every success.

13.       Thank you.