I'm back! I have decided to resume my musing on this blog because I think it can be theraputic to express my thoughts by blogging...otherwise, I may suffer an internal injury and cough out blood someday =)
I recently spotted an important news. GSK is creating vaccines from its $600 million plant in Singapore. I am certain that EDB provided some incentives to lure GSK to set up this plant in Singapore. That got me thinking about the effects of this investment
The plant will generate millions of dollars for Singapore's GDP and further diversify Singapore's economic sources. We will continue to see expansions in biomedical manufacturing, aerospace manufacturing and info-media productions. This will make us less volatile in times of recession as we will have more 'engines'to power us ahead rather than rely on the economy-cycle-sensitive financial hub, electronics manufacturing or property development.
The plant will need to recruit top biomedical researchers and scientists to produce high quality drugs and vaccines. Those who studied in the field of bio-medical will be highly sought after in the next decade.
The duration for patent protection for drugs is 25 years. We will expect more pharmaceutical patents to be filed in Singapore from increased public and private funded research and increased economic activity and returns. This is going to make local IP patent agents with bio-chemical background multi-millionaires! Under the Patents Act of Singapore, a patent for a local invention has to be filed first in Singapore, before it can be filed overseas, unless written permission is granted by IPOS.
No comments:
Post a Comment