Merck has signed an agreement to expand its presence in Singapore through new manufacturing, marketing and research investments.
Under the agreement with the Singapore Economic Development Board, Merck will invest more than $250 million over the next 10 years in site improvements at its manufacturing facilities in Tuas. It will also expand its biotech operations, adding capability to support new product launches. In addition, it will collaborate with local universities to help broaden the technical expertise of its local workforce.
Merck employs roughly 1,500 people in Singapore, where it established its manufacturing operations in 1996. The total value of Merck's investments in Singapore thus far are roughly $1.5 billion.
Merck isn't the only company eyeing Singapore. Over the past few months, Lonza has announced a $12 million plan to expand its biopharmaceutical development services platform there and plans a secondary listing on the Singapore Stock Exchange.
- see the Merck release