Pharma aids in Singapore manufacturing growth

Singapore's manufacturing industry expanded in June, the second time in as many months, with a boost from pharma output. The Purchasing Managers' Index, a leading indicator of manufacturing activity, turned positive in May for the first time in nine months, standing at 51.2. The trend continued in June, with a reading of 51.1. A reading above 50 indicates expansion, according to an announcement from Contact Singapore, an alliance of the Singapore Economic Development Board and Ministry of Manpower.

"The biomedical manufacturing sector expanded 120.4 percent year on year in May, thanks to a 138.6 percent leap in pharmaceutical output," the announcement says. A switch to higher-value patented drug compounds following U.S. approvals drove the increase, with help from a low base last May.

Electronics and aerospace manufacturing were also drivers.

- here's the release

Suggested Articles

A biotech that worked with a nutritional products maker on the API for its clinical-stage radiation drug, is buying all of the manufacturing know-how.

Merck KGaA is selling a manufacturing site and its Allergopharma allergy drug business as it focuses on newer meds.

In a first, the FDA and Indian oversight agencies worked together to block illegal drugs from entering the U.S.