Singapore’s pharmaceuticals on recovery path to strength thier worst output

Vastavam web: Singapore’s pharmaceuticals business, among the pillars of the city-state’s manufacturing sector, is set to return to strength this year as big global drugmakers ramp up output and advance automation at their production sites across the country.A recovery from dismal 2017, which marked the sector’s worst contraction in two decades, would underpin Singapore’s economic growth. Pharmaceuticals is the No.2 contributor to the country’s manufacturing output and accounts for 3 percent of its GDP.

“The opening of new sites like AbbVie’s (ABBV.N) biologics manufacturing facility and the ramp up of others including Amgen (AMGN.O) and Novartis (NOVN.S) reflect strong fundamentals … we expect the manufacturing activity to remain robust for 2018,” said Ho Weng Si, director of biomedical sciences for EDB.Singapore is well placed to benefit from this uptick in approvals as it hosts facilities of eight of the world’s top 10 drugmakers – such as Roche (ROG.S), GlaxoSmithKline (GSK.L), Pfizer (PFE.N) and Sanofi (SASY.PA).

A quarterly EDB survey of the manufacturing sector shows the pharmaceuticals industry is the most optimistic about production over January-March, with a net weighted balance of 56 percent of firms expecting output to rise from the preceding three months.Singapore’s pharmaceutical output has risen more than three-fold since the start of this century, with the sector generating S$17 billion ($13 billion) worth of products last year.