Advice You - Business

ECONOMY. Singapore is the most advanced economy among the Southeast Asian countries with a GDP per capita of US$25,207 in 2004 which is comparable to many advanced economies in the European Union. Singapore lacks natural resources but is a regional hub for in

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ternational trade, shipping and air transport. Many US, European and Japanese multinational companies have established Singapore as a regional office for their business operations.

Singapore's GDP grew at an average of 2.7% annually from 2000 to 2004 to reac

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

h US$106.9 billion by 2004 while inflation remaining below 2.0%. Though Singapore's economy is the most advanced among the Southeast Asian countries, unemployment increased from 1.8% during the Asian economic crisis of 1997 to 5.3% in 2004. To diversify and e

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

xpand the country's economy, the government is developing Singapore into a regional hub for finance and high technology.

The service sector accounted for 66.2% of Singapore's GDP in 2004 while the manufacturing sector accounted for 33.7%. Agriculture plays a

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

minimal role in Singapore's economy and accounted only 0.1% of the country's GDP. Major industries in Singapore include electronics, chemicals, financial services, petroleum refining, food processing, ship repair, offshore platform construction, biotechnolog

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

and entrepot trade.

DEMOGRAPHY. Singapore’s population of 4.2 million in 2004 is predominantly Chinese accounting for 77% of the population. Other ethnic communities include Malays (14%) and Indians (8%). Major religions practiced include Buddhism, Taoism,

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

Hinduism, Christianity and Islam. The Chinese are generally agnostic, Buddhist, Tao or follow the Christian faith while Malays are mostly Muslims and Indians generally Hindus, Christian or Muslims. Main languages used are English (widely spoken and used in bu

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

siness and by the government), Chinese (mainly Mandarin and Hokkien), Malay and Tamil. Singapore is a city-state and therefore nearly all its population live in an urban community. Most Singaporeans live in high-rise apartments or flats accounting for nearly

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

90% of the households while the remaining 10% live on landed property.

Singaporean consumers have the high level of disposable income compared to consumers in other Southeast Asian countries. High-income households account for nearly 27% of the total househ

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

olds while middle-income households account for 32%. Low-income households i.e. those earning than US$1,900 per month account for 41% of the total households.

INFRASTRUCTURE. Domestic and international telecommunication services are excellent and one of the

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

est in the region. Internet broadband services are efficient and widely available. Singapore's road system is efficiently managed and the city-state is well served by a public transport system. Singapore has efficiently managed seaports and airport which are

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

used as regional hubs by many sea and air carriers.

INTERNATIONAL TRADE. Singapore has one of the busiest ports in the world and a regional hub for entrepot trade. Singapore's major trading partners are Malaysia, US, Hong Kong, China, Japan, Taiwan, Thailand

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

and South Korea. Many of the goods imported from and exported to Malaysia and Indonesia are re-exports from other countries. Major exports from the Singapore include electrical and electronic products, machineries and equipments, processed foods, consumer go

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

ods, chemicals and mineral fuels. Major imports include machineries and equipments, mineral fuels, chemicals and foods.

CONSUMER USAGE OF TECHNOLOGY. More than 90% of all homes have mobile phones putting the country on par with Sweden, Norway, Austria and No

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

rway. Nearly all homes have at least a fixed-line telephone, television and refrigerator. The penetration of computers is also high with 70% of all homes having a computer and there are nearly 2.5 million internet users for a population of 4.3 million. Furthe

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

more, there are more than 2.5 million credit cards in the county and online payments are well established. However, only 35% of all homes own a car due to the extremely high cost to own a car in Singapore.

RETAIL MARKET. Singapore has one of the highest stan

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

dards of living in Asia after Japan and Singaporeans are keen shoppers. Estimated retail sales in Singapore in 2004 were US$11 billion. Unlike other countries in Southeast Asia, retail chains dominate over the industry by sales value. These include shopping m

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

alls, hypermarkets, supermarkets, department stores, convenience stores and speciality stores. Singapore has many established international retailers and brands attracting tourists from Southeast and Northeast Asia. Many shopping malls have also sprouted in t

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

he suburban areas existing side-by-side with the "mom and pop" establishments.

FOOD CULTURE. Singapore's multi-ethnic communities has had influenced on Singapore’s food culture. Furthermore, Singaporeans are accustomed and often frequent various western and

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

Japanese food service establishments including fast food outlets. Eating out is popular among Singaporeans and the current trend is to eat out rather than at home. Thus, Singaporeans spent 9% of their income on foods for cooking at home and 12% for eating out

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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