GlaxoSmithKline (GSK) is to partner with Singapore’s lead government agency for research to develop new formulations of existing medicines specifically for emerging markets.
The UK-based pharma company will work with the Agency for Science, Technology and Research’s (A*STAR) Institute of Chemical and Engineering Sciences over the next five years to research reformulated medicines, taking advantage of a growing demand for pharmaceutical products in emerging markets, including China, Brazil, India and Russia.
It expands on an existing relationship between A*STAR and GSK that began in 2003 and includes a 2012 agreement with the Agency’s Genome Institute of Singapore (GIS) to research treatments for lung cancer.
The latest deal for evidence-based formulations (EBFs) reinforces Singapore as both GSK’s hub for emerging markets and an important base for the pharma industry, as companies look towards growth in nearby countries, including Indonesia, India and Vietnam.
Duncan McKay, VP, emerging markets & Asia Pacific R&D, GSK, said the agreement was part of the company’s strategy of “growing a diversified global business”.
He said: “Within GSK’s portfolio of off-patent products, EBFs are an important part of our growth strategy, and our hope is that together with the Institute of Chemical and Engineering Sciences, we will create a sustainable, scalable model to meet both specific market conditions and patient requirements.”
Kevin Lai, director of biomedical sciences for Singapore’s Economic Development Board, gave the government perspective.
“This is a strong endorsement of Singapore’s scientific talent and capabilities,” he said. “It also further reinforces Singapore’s offering as the base for companies to generate insights and develop new solutions and market access strategies for the fast growing emerging markets.”