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.