Business Development Asia LLC

South East Asian Health News

ISSUE 7, JUNE 1998

SINGAPORE

Becton Dickinson (BD), of the US, has purchased Ohmeda's medical devices division for US$452m. Ohmeda is a Singapore based pharmaceutical company specializing in anesthesiology. BD reported a record turnover of US$2.8bn and a 14% increase in earnings per share in 1997 and expects an additional US$70m in revenue from its Asia-Pacific operations this year as a result of the acquisition. (April 20^th 1998)

The Bioprocessing Technology Center (BTC) is hosting the international conference, BIO '98. BTC is a national research center with biotech and technology development capabilities. Singapore is the location of the Asia-Pacific headquarters for several other research organizations including Quintiles, Covance and ProPharm, a Singaporean contract research organization. (June 18^th 1998)

Merck & Co. Inc plans to open a chemical manufacturing plant in Singapore. The US$300m plant will open in the year 2001 and will produce high-end prescription drugs. 7.5% of Merck's US$23.6bn in revenues came from the Asia-Pacific region in 1997. (June 12^th 1998)

Parkway Holdings, the Singaporean hospital group, has acquired Cavendish Clinic Ltd in the United Kingdom through Gleneagles Hospital (UK) for US$420,000. Cavendish has an authorized capital of US$96,000 and a paid up capital of US$74,000. (June 4^th 1998)

Schering-Plough, of the US, announced that it is investing US$25m to build a new plant in Singapore. The plant, to be built in Tuas, will manufacture the first dry-powder inhaler for asthma sufferers. Schering-Plough hopes to reach sales of US$500m in its fifth year of operation, producing 15-20 million units per year. Schering-Plough has facilities in Japan, Indonesia and a JV in Shanghai. (May 7^th 1998)

Tele-Medical Services, a Singaporean company which provides phone-based health monitoring services, is anticipating a potential listing on NASDAQ in five years time. The company sold a 40% stake to US venture capital firm H&Q, Asia Pacific last month, which will push for the future listing. H&Q will grow the business aggressively, with the aim of a market capitalization of about US$500m when the company goes public. The remaining 60% stake in the company is held by the proprietors. (May 9^th 1998)