Prime Highlights
- Experts emphasize collaboration over competition as key to Singapore’s biotech strategy and sustainable growth.
- Long-term planning, risk management, and shared investment across projects are crucial for success in high-risk pharmaceutical innovation.
Key Facts
- Singapore’s National Research Foundation will invest up to S$37 billion in research, innovation, and enterprise, focusing on longevity and ageing-related healthcare.
- Developing a new drug takes over nine years on average, with around 90% of drugs in human trials never reaching approval.
Background
Singapore’s biotech strategy will benefit more from collective thinking than direct competition, as experts stress the need for long-term planning and strong risk management in pharmaceutical innovation.
Novartis CEO Dr. Vasant Narasimhan said drug companies constantly face pressure from expiring patents. When patents end, generic drugs cut their revenues, so companies must keep developing new medicines. He added that strong research and long-term planning are key to survival.
Biotech innovation carries high risk. On average, it takes more than nine years to develop a new drug, and around 90 per cent of drugs that enter human trials never reach approval. Because of this, experts say success depends not only on money and talent, but also on how well risks are managed across research, regulation, and commercial planning.
Singapore believes it has an advantage in building such a system. Earlier this month, the government announced that the National Research Foundation will invest up to S$37 billion in research, innovation, and enterprise. Longevity and ageing-related healthcare are among the key focus areas.
Rather than competing directly with established global drugmakers, Singapore is focusing on long-term global trends. Its small size, fast decision-making, and stable policies let it try new ideas, learn from mistakes, and support innovation for many years.
Experts also point out that biotech should not be treated as a zero-sum game. Large pharmaceutical companies manage risk by spreading investments across many projects. A similar approach, based on collaboration between scientists, policymakers, and businesses, can help smaller ecosystems grow.
Instead of aiming for a single biotech success story, the broader goal is to build Singapore into a strong, trusted global biotech hub. Industry observers say this shared approach will support sustainable growth and better health outcomes over time.
