The Weekly News Update is a weekly roundup of business news from around the Asia-Pacific region, covering Fusion Consulting's core industry practices: chemicals, consumer & retail, financial services, industrial & logistics, information & communication technology, life science and media & leisure. If you have colleagues or friends who may be interested in subscribing, please forward this email to them and copy knowledge@fusionc.com.  Life science

Singapore - Biosciences Becomes 'Key Pillar' Of Economy Source: BMI Industry Insights, 16 April 2008 Singapore has achieved its goal of making biomedical sciences a 'key pillar' of its economy. The sector now accounts for over one-tenth of manufacturing output, according to the country's Economic Development Board (EDB). Due to regional rivals eroding its traditional production industries - electronics, rubber and chemicals - the city-state is committed to increasing its involvement in the high-value biosciences. By 2000, the value of output of the biomedical sector had reached US$4.6 billion. Many multinational drugmakers established facilities in the city-state, including GlaxoSmithKline, Pfizer and Merck & Co. The EDB said that Singapore's biomedical sector employed more than 11,500 people in 2007, double the number in 2000. India - SIRO buys out German clinical R&D firm Source: Business Standard, 18 April 2008 SIRO Clinpharm (SIRO), one of India's leading clinical research organisations (CRO), has signed an agreement to acquire Germany-based Omega Mediation Group, a leading mid-sized European CRO, for an undisclosed amount in an all-cash deal. The acquisition will provide SIRO with operational capabilities in Germany, Greece, Estonia, the Baltic states and Israel, besides access to Omega's major European pharmaceutical and biotech clients. The global clinical trial industry is estimated at about US$15 billion and the domestic CRO industry is estimated to have a turnover of US$300-350 million with over 100 players. The CRO industry in India is projected to grow to US$2 billion by 2010. India - National Pharmaceutical Policy almost a reality Source: BMI Industry Insights, 18 April 2008 India's controversial National Pharmaceutical Policy (NPP) is nearing introduction, despite resistance from the drug industry. Under the plan, regulations will be toughened and more medicines will come under price control. As these changes will ultimately benefit patients most, BMI welcomes the new rules, but cautions lawmakers that NPPs can have both positive and negative outcomes, as seen in Sri Lanka and Chile, respectively. An assembly of legislators is scheduled to meet on April 30 to finalise its recommendations for a policy that attempts to balance the interests of consumers and of the pharmaceutical industry. The main thrust of the draft NPP is to increase the proportion of India's US$13.82 billion medicine market under price control from the current 20% to more than 35%. This would mean that an additional 354 drugs would be added to the list of price-controlled medicines.     View an example of our experience in this industry. Back to list of articles.  Visit our new website to sign up for free intelligence on Asian markets.

This Weekly News Update is a free newsletter, providing a round-up of the week's Asia-Pacific news from our core industry practices. If you have colleagues or friends who may be interested in subscribing, please forward this email to them and copy knowledge@fusionc.com.

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