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Singapore Pharmaceuticals And Healthcare Report Q1 2010 - New Report Published

khunking

Alfrescian
Loyal
New report provides detailed analysis of the Healthcare and Medical market

Published on January 13, 2010

by Press Office

(Companiesandmarkets.com and OfficialWire)

LONDON, ENGLAND

For the Q110 update of the Singapore Pharmaceuticals & Healthcare Report, BMI has introduced 10- year forecasts for overall medicine sales. These forecasts shows that pharmaceutical spending will increase from US$568mn in 2008 to US$753mn in 2019, equating to a compound annual growth rate (CAGR) of 2.69%. However, due to the strengthening Singapore dollar, the CAGR is forecast to be just 1.96% in local currency terms. Underlining the mature nature of the market, pharmaceutical expenditure as a percent of GDP is projected to decline from 0.33% in 2008 to 0.28% in 2019. Singapore has moved up one place in BMI's Asia Pacific Pharmaceutical Business Ratings, from 8th in Q409 to 7th in Q110. The country scores very well for Country Risk, which is a composite assessment of corruption, the legal framework and bureaucracy.

Singapore's consistent and transparent medicine regulations are also attractive to multinational drugmakers. The fundamental drawback is a small pharmaceutical market that is growing slowly, with strict price controls also a deterrent. Over the medium term, we expect Singapore to fall down the ratings, as emerging countries such as Vietnam and Indonesia become more alluring to foreign firms selling patented products. Singapore is a major pharmaceutical manufacturing hub. The main attractions to drugmakers are a skilled workforce, a stable political environment, government incentives and a thriving port. In November 2009, Swiss global healthcare company Roche opened its US$500mn biologics manufacturing plant in the Tuas industrial zone in the country. In Q309, Medtronic invested SGD80mn (US$55.94mn) in a Singaporean manufacturing facility producing cardiac rhythm disease management devices for the regional market. High-quality healthcare services are available to all Singaporeans, regardless of income level. To help citizens co-pay' for services, there are four schemes: Medisave, Medishield, Eldershield and Medifund. Introduced in 1984, Medisave allows Singaporeans to put aside part of their income (6-8% of their monthly salary depending on age) into an account to meet future personal or immediate family's hospitalisation, day surgery or certain outpatient expenses.

Medishield is a low-cost catastrophic medical insurance scheme. This allows Singaporeans to effectively risk-pool the financial risks of major illnesses. Eldershield is a severe disability insurance scheme that provides basic financial protection to those who need long-term care, especially during old age. It provides a monthly cash payout to help pay out-ofpocket expenses for the care of a severely disabled person. Medifund is a medical endowment fund set up by the government to act as the ultimate safety net for needy Singaporean patients who cannot afford to pay their medical bills despite heavy subsidies.

Singapore Pharmaceuticals and Healthcare Report Q1 2010: http://www.companiesandmarkets.com/r.ashx?id=P0N32NV1N195432
 

QXD

Alfrescian (InfP)
Generous Asset
Simple, SG does NOT have a large health care subsidy market as compared to places such as US, Oz, UK, EU.

Pharma's make money having exclusive deals with governments, you bulk buy our drugs, we open up the supply chain.

Most Pharma Coys in Tuas are in API (Active Pharmaceutical Ingredients) production, much like the Wafer fabs of the electronic industry. The only way Pharmaceuticals infrastructure in SG can expand towards downstream manufacturing such as tableting, bottling and packaging is IF the local market warrants such a demand, if not they would rather ship API's out of Singapore and into the country of sale for downstream processing.

Which means, for all those bros who think about migrating over to the "biotech" manufacturing miracle as boasted by PAP, they can damn well forget it.

Case in point, Wafer Fabs swallow 1000+ workers at any time. How many do you think one API plant the size of 4 football fields in SG takes? 200-300 max.

Conclusion: Singaporean suck eggs and Philip Yeo gets the credit for being the biotech mastermind...
 

longbow

Alfrescian
Loyal
I think we offer them lots of tax benefits. They make 1 pill costing 1 cent in Singapore, sell it to their parent company in US for $2.00 AND the $1.99 in profit recognized in SIngapore and taxed under Singapore tax code. To set up new factory maybe EDB give them no tax or very low tax for 3 years. So they get to keep most of their $1.99 tax free or with little tax. A bit simplistic but I think that is what is happening. Of course to get the tax free status they must have RHQ in Singapore and so we see many of their ang mor posted to their rhq and live in nice condo and drive nice cars and send to American School. Hopefully we can take some money back interms of GST etc.

Problem is that all the 1st world country no money and want to close loophole.

Simple, SG does NOT have a large health care subsidy market as compared to places such as US, Oz, UK, EU.

Pharma's make money having exclusive deals with governments, you bulk buy our drugs, we open up the supply chain.

Most Pharma Coys in Tuas are in API (Active Pharmaceutical Ingredients) production, much like the Wafer fabs of the electronic industry. The only way Pharmaceuticals infrastructure in SG can expand towards downstream manufacturing such as tableting, bottling and packaging is IF the local market warrants such a demand, if not they would rather ship API's out of Singapore and into the country of sale for downstream processing.

Which means, for all those bros who think about migrating over to the "biotech" manufacturing miracle as boasted by PAP, they can damn well forget it.

Case in point, Wafer Fabs swallow 1000+ workers at any time. How many do you think one API plant the size of 4 football fields in SG takes? 200-300 max.

Conclusion: Singaporean suck eggs and Philip Yeo gets the credit for being the biotech mastermind...
 
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