Singapore pharma industry geared up for major rebound in 2018

Mar 26, 2018

After its output shrank by 15.6 percent in 2017, Singapore’s pharma industry has plans to make a big recovery this year. 

According to the country’s economic development board, the sector’s recovery will be led by more FDA drug approvals and new site openings for companies like AbbieVie, Amgen and Novartis.

Several major players in the industry also reported that advances in plant automation and other technologies will contribute to more consistent production levels.

Singapore is home to facilities owned by eight of the world’s top 10 pharma companies, and the industry is the country’s No. 2 contributor to manufacturing output. The Singapore Economic Development Board said that it expects 2018 to be a year of “robust” growth for the industry, and that the outlook will stay positive for a few years to come.

Read the full Reuters report.