Deputy Prime Minister Heng Swee Keat underscores Singapore’s role in global health innovation at the groundbreaking of Novartis’ facility expansion.
On 15 March 2024, Deputy Prime Minister and Coordinating Minister for Economic Policies, Heng Swee Keat, delivered a speech at the groundbreaking ceremony for the expansion of Novartis’ biologics manufacturing site in Singapore. The event, attended by Novartis executives and the Swiss Ambassador to Singapore, marks a significant investment in the biopharmaceutical sector, emphasizing Singapore’s pivotal role in global healthcare and innovation.
Since 1986, Novartis has formed a robust partnership with Singapore, investing over US$1 billion and significantly contributing to global health advancements. The current expansion will more than double the production capacity in Singapore, enhancing the company’s ability to serve global markets, particularly ASEAN and the Asia-Pacific regions.
DPM Heng highlighted the critical role of biopharmaceuticals during the COVID-19 pandemic, showcasing the sector’s potential in addressing future global health challenges, including the aging population. By 2050, a substantial increase in the elderly population is expected both in the Asia-Pacific and Europe, underlining the need for innovative therapeutics.
Singapore’s investment in the life sciences over the past two decades has established a dynamic and trusted biomedical sector, making it one of the top contributors to the nation’s manufacturing output. The expansion of Novartis’ site aligns with Singapore’s RIE2025 plan, emphasizing Health and Human Potential, and Manufacturing, Trade, and Connectivity as key focus areas. This commitment is further supported by a S$25 billion investment, with an additional S$3 billion announced in Budget 2024.
DPM Heng stressed the importance of sustainability and innovation in biopharma, praising Novartis for its efforts in reducing emissions and implementing advanced manufacturing technologies. He also pointed out the significance of product innovation and exploring new therapeutic frontiers to address the health needs of an aging population.
The expansion of Novartis’ manufacturing site is a testament to Singapore’s strategic vision for the biomedical sector, fostering innovation and collaboration to address global health challenges. This initiative not only strengthens Singapore’s position in the global biopharma industry but also underscores its commitment to improving healthcare outcomes worldwide.
Source – PMO
