Merck Opens $400M Plant in Singapore
U.S. pharmaceutical giant Merck & Co. opened a $400 million bulk chemical manufacturing plant in Singapore Wednesday.
The plant will produce active ingredients for products used to treat asthma and arthritis, according to a statement released by Merck.
About 160 people will be employed at the new facility, said Singapore's Deputy Prime Minister Tony Tan in a speech at an opening ceremony.
Tan said the plant will help Singapore's push to develop the biomedical science industry.
Singapore's government has recently been promoting the wealthy but resource-poor city-state as a hub for ``life sciences,'' including pharmaceuticals, medical services and biotechnology research.
Leaders hope that developing the biomedical industry will lessen Singapore's economic dependence on manufacturing and exporting electronic products, a field in which it faces rising competition from other Asian countries.
The new Singapore plant is being opened by Merck Sharp & Dome Singapore Ltd., a wholly owned subsidiary of New Jersey-based Merck.
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