Singapore Biomedical Hub?????
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Business Times - 07 Dec 2006
World Bank sees big risks in S'pore biomed drive
SINGAPORE - Singapore's multi billion-dollar campaign to develop a biomedical sector and create new sources of revenue is failing to yield any significant payoffs so far, two prominent World Bank economists said. The economists, authors of a new book about industrial policy in East Asian cities, said Singapore has only a 50/50 chance of succeeding, but the move is a gamble it must take to maintain economic prosperity in the face of growing competition from low-cost neighbours such as China.
'We don't see the pay-off yet. The real pay-off is when Singapore companies are turning profits and going for IPOs,' Shahid Yusuf said on a call from his office in Washington DC. 'The pressure is building for Singapore to have some success stories,' he said, noting that Singapore did not have any internationally known drug companies.
Over the last 5 years, Singapore has plowed more than $3 billion (US$2 billion) into its biomedical sector, official data showed. Some estimate as much as $5 billion has been committed. It has spent generously on start-ups, new facilities and labs and on luring top scientists from the US, the UK and Europe.
The problem Singapore faces is one which is faced around the globe by countries trying to tap into the potential of biomedical development. So far, despite all the investment, few are earning the kind of money that hubs in Boston and San Diego are making. 'Around the world, biotech is still more promise than profit as of yet,' said Mr Yusuf.
Despite the lack of success so far, the authors highlighted the potential for huge dividends later. Kaoru Nabeshima said the pharmaceutical industry held great potential for economies such as Singapore, India, China, South Korea and Taiwan. In the US health care spending was about 16 per cent of GDP compared to 3-6 per cent in many other countries. -- REUTERS
Copyright © 2005 Singapore Press Holdings Ltd. All rights reserved.
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From: Zenra2003 02:20
To: teh_si unread 2 of 3
126244.2 in reply to 126244.1
I think the problem with Singapore is that it still doesn't have the environment to stimulate minds that produces many a good researcher. I have seen A+ students who actually blank out when placed in a research environment, like a seminar presentation of a PhD research proposal, etc.
Look at our students. They are trained by rote learning, quoting ad verbatim from textbooks. Rarely do you find students venturing beyond the classroom. In fact, in yesterday's ST article, in the tie up between the Swiss drug company and EDB culminating in the establishment of a biologic drug factory, the executives at the Swiss side said that Singaporeans have good science foundation (provided by rote learning) but lack expertise in biologic drug research (biologic means use of biological medium like antibodies, proteins as drugs). Ironically, the article said that 350 jobs will be created, but the folks at the Swiss side said that we lacked the expertise. Probably, they will be getting experts from overseas, and the rest could be assembly line workers.
Cheers -
never mind, still got IR to fall back on..
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hub this, hub that.
in the end only the govt and a small minority benefit. -
wash test tube?
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Well, they're good at naming, titles, and procalmations of glories - but never good in delivery of whatever they claimed... -
they only deliver to the people on top of the food chain.
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x2!Originally posted by mistyblue:never mind, still got IR to fall back on..
IR uses most Singaporean hor?? -
there is no need for high pay experts to tell us that the chance
of success if 5o%.Sec one student can tell you the same things.
if you dunt believe Spore govt figues,no need to read on.
1.Biomedical Sciences and Healthcare Services in spore.Bird' eyes view.
2.Singapore's Biomedical Sciences (BMS) industry maintained growth momentum in 2005. Manufacturing output grow by 9.8 per cent to reach S$18 billion and employment expanded by a healthy 8.6% to cross the 10,000 mark. The target is for the BMS sector to reach S$25 billion in manufacturing output, S$12.5 billion in value-added and 15,000 jobs by 2015.
This sector was almost zero output few years ago!!
3.No pain. No gain.
No risk ,No profits.The only way to make sure you wony loss in
investment/BUSINESS is DO NOT INVOLVE IN BUSINESS!!
4.With one-north being filled up pretty fast, ,Spore Bio-medical biz looks very good!!
5.If you dunt invest in this sector,
1.what is other better options?Just put the captial in banks?
Other investments ?
2.What is the opportunity cost if not taking risks?
What is the potential profits?
6.I am looking forward to one to few drugs or treatments
that can make big money by selling to the world and government
has a share on it.
My retirement funds or reductions in tax rely on these
break through.The day will come.
3.International experts not always right
In 1960's ,some foreign experts suggested Spore adopt
''Import Substitution Policy'',that is just make what you need.
But this could not help to save many unemployed then.How??
Lucky with have good advisers like DR ALBERT WINSEMIUS (1910-1996)
In the 1960s, Dr Winsemius helped set Singapore on the road to industrialisation, with the emphasis on the creation of jobs and building an attractive investment climate. His first move was to set up low-value industries, such as the production of shirts and pyjamas in factories as it was then the only manufacturing activity in which Singaporeans had sufficient experience.
If then government did not spend $$ to develop factory like Jurong
It was also Dr Winsemius's suggestion that the Housing and Development Board should start with a large-scale public housing programme. His reason was that successful public housing programme would bolster the country's image, thus attractive to investors. It would at the same time give Singaporeans a sense of confidence about their own country. True enough, Singapore managed to attract big oil companies like Shell and Esso in establishing refineries here.
Town,how our grand/parents got the JOBS.
There is risks in every policy.The only way to make sure'' no risk'' is
''do nothing.'' -
i believe the govt knows that they're about a decade late when it comes to tourism, they might have wished they had built the integrated resort then. i am aware many are opposed to it on moral grounds but i think it's necessary. in fact i do think sg needs another one or two mega theme parks, with or without the gaming content.
their visits to the mid-east starting a couple of years ago made the govt realised just how much the tourist economy is more stable and lucrative then their other 'hubbing' ventures. why so? tourist money tends to stay within the country, especially once you have an established brand. operators who spent billions would not at its whim and fancy close down and move on to somewhere cheaper. unlike manufacturing where labour cost matters most, tourism places emphasis on quality.
also, jobs are much more aplenty, be it direct or indirect employment. if they had seen the slide in economy coming, you'll have less folks causing 'accidents' on the mrt...as for the 'high value' hubs they are creating, even if it works, only superficial prestige will be gained. for the money they've thrown in, it will not generate jobs which majority of the population needs nor will it support too many indirect industries....
the amount of premium real estate dubai is building has drawn in lots of money. i happened to watched the building of palm island on the discovery channel, boy was it impressive and already most of the premium real estate has been sold, including to beckham and his mindlessly rich footie mates...we have an insipid snow city, dubai has a huge snow park, we have sg river while they have a man-made venice canal...all very impressive..... -
I think that the life science effort has had a spectacular start with good commitment from the government. They have been very careful with the strategic position of their biomed investments.
However, much of the current growth in the biomed sector is from drug manufacturing rather than R&D payoffs. To really make big money and achieve sustainability, we need to create many biotech and pharma startups. Even in the US, biotech attrition rate is very high and our long term success in this field does depend quite a bit on a stroke of luck.
In my opinion, to improve that possibility of a lucky break, a creative environment, a playful spirit and a culture that doesn't mind failure is essential. As of now we have none of these pre-requisites.
So while the whole life science field will continue to make steady gains by the sheer force of momentum due to the massive government investments, future growth projections are likely to be too optimistic. -
someone invent t-virus leh. roar.
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succes or lossing less money in bio=medical not just by luck.
sitting endless hours in lab and sweats also count.
here are some orgs.
The Singapore Tissue Network (STN)
* Singapore Cancer Syndicate (SCS)
* Singapore Bioimaging Consortium (SBIC)
* Singapore Stem Cell Consortium (SSCC)
* Singapore Consortium of Cohort Studies (SCCS)
* Member of the International Cancer Biomarker Consortium (ICBC)
* Singapore Immunology Network (SIgN)
2.Can you post the details of Spore Bio--midical Consortium ?
3.Singapore's efforts to develop biomedical sciences hailed an outstanding success
07.dec 2006...The next 5 years will focus on translating discoveries by scientists at the Biopolis from the bench to the bedside....
The Singapore Institute for Clinical Sciences, which will focus on disease-oriented research, will start its initial work on a few diseases such as obesity, diabetes and hepatic infectious diseases such as Hepatitis B.
It will be headed by Professor Judith Swain - an eminent American clinician scientist....
Another institute, the Experimental Therapeutics Centre - to be headed by Sir David Lane, a British cancer expert - aims to build up the capabilities and resources needed in drug discovery and development.
"We have to take discoveries about infective disease and try to take that discovery and turn it into a product. Something that would actually bring clinical benefit. This is a tremendously challenging task but I think that the resources that you see around here, we have created a unique environment for these to happen," said Sir David Lane, Director, Experimental Therapeutics Centre.
The government has committed $1.5b for translational research over the next 5 years. .... -
Hope so loh.... Genting don't know prefer Sg or foreign talents leh ...Originally posted by Darkness_hacker99:x2!
IR uses most Singaporean hor??