U.S. drug firm to invest millions in S'pore plant

U.S. drug firm to invest millions in S'pore plant

SINGAPORE (AP): A U.S. drug company on Friday announced plans to invest US$450 million to expand its manufacturing and research activities in Singapore.

Schering-Plough had already put $300 million into two pharmaceutical manufacturing facilities in Singapore. The new investment would be used to expand the company's manufacturing capability and for research and development.

Singapore recently put up $1.14 billion to promote scientific research and development in the wealthy Southeast Asian city state. Last month it set up a bioethics committee to develop policies for pharmaceutical and other industries devoted to human biology research.

Trade and Industry Minister George Yeo on Friday said science- based industries would be the pillar of Singapore's economy in the coming decades.

"We will put in the resources, reorientate the entire education system, nurture local talent, attract large numbers of foreign talent and establish a conducive regulatory and ethical framework," said Yeo.

Schering-Plough's vice president, John Nine, said four new facilities to be built with the new investment would create 400 new jobs when fully operational in mid-2002.

"Singapore offers a highly-skilled and educated work force, and a strategic location," said Nine.

He said the company would produce drugs in Singapore to treat hepatitis C, obesity and rheumatoid arthritis.

Schering-Plough was the first U.S.-based drug company to establish manufacturing facilities in Singapore. When completed, a new 50-acre (20-hectare) compound would be the biggest pharmaceutical site on the island.