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

Japan - Takeda to buy Millennium Pharma Source: The Wall street Journal, 11 April 2008 Takeda Pharmaceutical will buy US biotech firm Millennium Pharmaceuticals for US$8.8 billion to boost its cancer drug business. The acquisition will give Takeda control of Millennium's cancer drug Velcade, which is used to treat multiple myeloma, a bone marrow cancer. Developing cancer drug pipelines has been a top priority for Japanese drug makers which have been late to step into the lucrative business.  The deal comes on the heels of rival Eisai's US$3.9 billion purchase of cancer specialist MGI Pharma. It also follows Takeda's agreement with Abbott Laboratories in March 2008 to split their 50-50 joint venture TAP Pharmaceutical Products. Singapore - C&O Pharma in venture with US outfit Source: Business Times Singapore, 15 April 2008 Singapore's C&P Pharmaceutical Technology Holdings aims to ride the global trend to outsource research to Asia by setting up a joint venture with US contract research organisation (CRO) XenoBiotic Labs. The move is part of the company's diversification strategy, as demand for contract research services booms - especially in China where the world's top pharmaceutical companies have already set up laboratories. According to medical market research publisher Kalorama Information, the worldwide market for outsourced drug discovery is expected to grow 15% a year from US$4.1 billion in 2005 to US$7.2 billion in 2009. Singapore - Biomedical sciences sector grows fourfold from 2000 Source: Channel NewsAsia, 15 April 2008 Singapore's output in biomedical sciences has increased fourfold reaching S$24 billion (US$17.7 billion) last year, up from S$6.3 billion (US$4.6 billion) in 2000, when the government began to develop the sector. Biomedical sciences - pharmaceuticals, biotechnology, medical technology and healthcare services - last year made up 10.1% of all manufacturing output in Singapore. Asia's expanding market opportunities and talent pool are major "pull factors" for investors, and Singapore is a strategic location for companies' expansion into the region.Place articles here.   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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