S'pore to up biomedical output

S'pore to up biomedical output

SINGAPORE: Singapore's biomedical sciences industry is poised
to increase its share of total manufacturing output after posting
an annual 48 percent rise in 2002 production, the government said
Thursday.

Biomedical sciences output increased by 48 percent to S$9.7
billion (US$5.61 billion) in 2002 while the value-added component
grew 76 percent to S$6.5 billion, the Economic Development Board
(EDB) said

"Singapore's BMS (biomedical sciences) industry is on track
for long term growth, and is set to achieve its target
manufacturing output of S$12 billion by 2005," the EDB said.

Biomedical sciences now accounts for seven percent of the
island's overall factory output.

Pharmaceuticals output was the biggest contributor to
biomedical sciences output, increasing 58 percent to eight
billion dollars to claim a 82 percent share of production from
the industry.

Medical technology, the other segment that make up biomedical
sciences, saw output rose 14 percent to S$1.77 billion, the EDB
said. -- AFP