1.1INTRODUCTION TO THE PHARMACEUTICAL SECTOR AND COMPANIES IN SINGAPORE
Kala Anandarajah & Tan cupboard Ying provide us with an insight into the regulatory and legislative mental synthesis of the pharmaceuticals industry in capital of Singapore. This article also looks specifically at the licensing issues relating to pharmaceutical products
The pharmaceutical industry in Singapore is a growing one and one which has a considerable touchstone of Government backing. It is part of the pharmaceutical, biotechnology and health care cluster in Singapore. These three industries confirm been grouped to happenher as they have synergies and address common issues of human healthcare. Of the three, pharmaceuticals is viewed as the strongest sector.
In the mid-1990s, the Singapore Government designated a 50 hectare site at Tuas, the industrial hub of the country, as a pharmaceutical and biotechnology zone, known as the Pharma Zone.
The particular focus of the Zone is to tap the dandy step-up potential of new pharmaceutical and biotechnology manufacturing companies. It has, to date, be successful with an established cluster of leading foreign companies such(prenominal) as SmithKline, Glaxo and Merck now dominating the industry here. They have multi-million vaulting horse manufacturing facilities in Jurong Island and Tuas.
The Singapore Governments approach has been to adopt a proactive policy in the pharmaceuticals industry. In this regard, it plans to integrate pharmaceuticals with drug discovery, healthcare and clinical testing.
The importance of pharmaceuticals in Singapore is reflected in the growth of the industry. It was a driving force behind the boom in life sciences in 1999 and is expected to continue to do well. It grew by 28% in the first four months of 2000. Together with medical-device output, it has a 60% increase in output and these two sub-sectors leave behind reach the S$12 billion mark deep down two years if they continue to grow at afoot(predicate) rate.
Businesses are experiencing increasing pressure as the...If you want to get a full essay, order it on our website: Ordercustompaper.com
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