Merck Opens Asia Pacific Headquarters In Singapore
Merck has opened an Asia Pacific headquarters in Singapore, the firm announced Aug. 21.
The company highlighted the move as part of its global strategy to strengthen focus on emerging markets, particularly Asia. The firm does business in Asia under the corporate name Merck Sharp & Dohme.
"Singapore offers strong intellectual property protection, modern physical and regulatory infrastructure and a highly skilled and educated professional work force," Merck CEO Richard T. Clark said.
Merck has introduced eight new products in Singapore during the past five years, according to the firm.
"With a strong, direct presence in Asia we can better understand and respond to the needs of patients and customers and contribute to improved healthcare in the region," Merck President-Asia Pacific Human Health Ramesh Subrahmania said.
Singapore's reputation for strong IP protection was cited in a recent PriceWaterhouseCoopers report as one of the reasons why the nation has "become recognized as a premier global hub in Asia for the manufacturing of pharmaceuticals" (1"The Pink Sheet" DAILY, May 22, 2007).
Merck recently completed a $100 million (S$153.1 million) manufacturing facility in the Tuas section of the island nation to support production of MK-524, an investigational compound for lipid management now in Phase III. The firm's total investment in the country is more than $650 million (S$995.3 million).
The company employs over 500 people in its Singapore commercial and manufacturing operations and nearly 5,000 in the Asia Pacific region.
The biomedical sciences sector is the third largest in terms of contribution to the country's economy. Singapore is a manufacturing hub for several companies, including Abbott, GSK, Novartis, Sanofi-Aventis, Schering-Plough and Wyeth.
[Editor's note: In an exclusive interview that appeared in "The Pink Sheet" DAILY, Singapore's Biomedical Sciences Group Director Yeoh Keat Chuan discussed the dynamics of the biomedical industry and how it figures in Singapore's economy ("The Pink Sheet" DAILY, Jan. 24, 2007).]
Genentech and Lilly also have recently increased their business presence in Singapore. Genentech announced in March that it would add a biologics manufacturing plant that will handle its macular degeneration treatment Lucentis (ranibizumab). The same month, Lilly said it would put an additional $150 million toward its Singapore-based drug development initiatives ("The Pink Sheet" DAILY, March 28, 2007).
-Pamela Taulbee
This article is reprinted from "The Pink Sheet" DAILY – Aug. 22, 2007
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