Written reply to PQ on assessing biomedical sectors resilience and recalibrating Singapore's long-term economic strategy and retain MNC manufacturers

Question:

Mr Yip Hon Weng: To ask the Deputy Prime Minister and Minister for Trade and Industry following recent announcements on local biopharma plant closures (a) whether the local biomedical sector remains a resilient economic and employment engine; (b) whether Singapore's long-term economic strategy and areas of focus require recalibration; and (c) what is the Ministry's strategy to attract and retain such multinational corporation (MNC) manufacturers amidst rising costs and increasing regional workforce competence. 

Written Answer by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong

1.                  Singapore remains a leading global hub for biomedical sciences (BMS). We are home to more than 60 BMS manufacturing plants, including eight of the world’s top 10 biopharmaceutical companies[1].

2.                  The outlook remains strong. In 2025, the Economic Development Board attracted S$4.4 billion worth of investments in the BMS sector, which will create 1,775 jobs over the next five years. These investments will strengthen our BMS ecosystem and anchor new capabilities in Singapore. For example, AstraZeneca recently broke ground on a US$1.5 billion end-to-end antibody drug conjugate (ADC) plant, the first such facility in its global network. The recent plant closures reflect the individual companies’ commercial circumstances, rather than a weakening of Singapore’s value proposition.

3.                  We will continue to strengthen our fundamentals while supporting our manufacturers to innovate, raise productivity, and adopt advanced technologies such as artificial intelligence (AI) and robotics.

[1] Pfizer, Sanofi, Novartis, MSD, GSK, Roche, AbbVie, and AstraZeneca.