Singapore biopharma industry makes significant strides

 15-Sep-16, Yahoo! Finance 

Singapore is ranked fourth in the world for innovation in the biopharma industry, according to a recent report from the Information Technology & Innovation Foundation. In the report the ITIF found that five countries (US, Switzerland, Taiwan, Singapore and Sweden) have enacted long term policies that have helped them become leading life-science innovators. 

Image: ZUU Online

The report also states, "Singapore’s aggressive push into life sciences has resulted in eight of the top ten global pharmaceutical firms locating their (Asian) regional headquarters there."

The reason that Singapore has been able to achieve such a high ranking is largely due to the enormous amount of government investment over the years in life-sciences research.

Perhaps where Singapore has a slightly different approach is the importance which the government attaches to the incorporation of new technology into care delivery. This is closely connected with the other goal held by the government of making the country a major hub for the pharmaceutical and biotech industries.

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