Merck & Co., Inc, operating in Asia Pacific under the corporate name Merck Sharp & Dohme (MSD), has opened its regional headquarters in Singapore. The move is part of the company's global strategy to strengthen its focus on emerging markets, bringing Merck's innovative portfolio of pharmaceuticals and vaccines to patients and the medical community in Asia.
The total investment in Singapore arising out of the relocation will supplement initiatives ongoing in Singapore, including chemical and pharmaceutical operations and the installation of state-of-art technologies to support introduction of new products.
The company decided to set up its Asia pacific regional headquarters at Parkview Square in Singapore because of the favourable business environment prevalent there. Moreover the prevalence of strong Intellectual property protection in Singapore made the company take the decision.
Richard T Clark, chairman, president and CEO, Merck & Co Inc, said, "Singapore offers strong intellectual property protection, modern physical and regulatory infrastructure, and a highly-skilled and educated professional workforce. We have also found great support from the EDB to move forward as soon as possible. Merck's decision to relocate our Asia Pacific regional headquarters to Singapore is bold testimony to our long-term confidence in and commitment to Singapore and the entire region."
Ramesh Subrahmanian, president, Asia Pacific Human Health, said, "With a strong, direct presence in Asia we can better understand and respond to the needs of patients and customers, and contribute to improved healthcare in the region. We will strengthen our engagement with the scientific community and work closely with public health stakeholders in Asia. We hope to fully leverage the talent and capabilities available in the region to become an employer of choice for skilled and talented professionals in Asia Pacific."
The new Asia Pacific regional headquarters builds on an already strong manufacturing presence in Singapore, where the company has recently completed a S$152 million (US$100 million) investment at their Tuas Biomedical Park facility to support future new product introductions, including an investigational medicine for lipid management (MK-524) that is currently in phase III development.
This brings Merck's total investments in Singapore to more than S$1 billion (US$650 million) in facilities that span 49 acres in Tuas, producing both active pharmaceutical ingredients as well as finished products for sale worldwide. Moving forward, the company also plans to invest in additional new technology platforms at this facility to support more new product introductions. The new regional office expands Merck's scope and capabilities in Singapore. The company already employs over 500 people in its Singapore commercial and manufacturing operations.
In the past five years, Merck, through its MSD Singapore subsidiary, has introduced eight new products in Singapore alone and invested US$4.8 billion in R&D worldwide.