MSD and Economic Development Board seal deal for new investments in Singapore

MSD to invest US$250mn over the next ten years in site improvements at its manufacturing facilities.

MSD, known as Merck in the United States and Canada, and the Singapore Economic Development Board on Friday jointly announced the signing of a new agreement under which MSD will expand its presence in Singapore through new manufacturing, marketing, and research investments. The new agreement provides MSD with a long-term vision for its operations across all facets of its business in Singapore.

“Singapore is privileged to be MSD’s strategic partner and this agreement reflects on the strength of the relationship we have built up over the last 15 years. We are encouraged that this will pave the way for Singapore to continue to enhance our capabilities as an integrated global pharmaceutical site in Asia, across manufacturing, R&D and commercial operations,” said Dr. Beh Swan Gin, Managing Director, Economic Development Board.

"Signing this agreement today with the Economic Development Board is a true investment in our collective future here in Singapore," said Willie A. Deese, Executive Vice President and President, Merck Manufacturing Division. "MSD is pleased to expand its already substantial operations in Singapore with new, far-reaching commitments that will support MSD's global mission of meeting patient needs with innovative medicines for use around the world."

Under the agreement, MSD will invest over USD $250 million over the next ten years in site improvements at its manufacturing facilities in Tuas, in addition to expanding its biotech operations, adding technology capability to support new product launches and committing to new expenditures of S$700 million on local research activities. MSD will also help to further develop the skills and broaden the technical expertise of its Singapore-based workforce through collaborations with local universities and training opportunities at other MSD facilities around the world, according to an MSD report.

MSD has a strong presence in Singapore through its manufacturing facilities, marketing and sales organization, Translational Medicines Research Center, and regional operations headquarters. The total MSD workforce in Singapore across these organizations is approximately 1,500 employees. MSD established its manufacturing operations in Singapore in 1996, and the total value of MSD's investments in Singapore to date are estimated at USD $1.5 billion.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

Tags: MSD Singapore, MSD Economic Development Board, investments in Singapore