GSK partners A*Star to develop drugs
PHARMACEUTICAL firm GlaxoSmithKline (GSK) and A*Star’s Institute of Chemical and Engineering Sciences (ICES) have inked a five-year agreement to develop medicines for emerging countries, which are expected to account for a sizeable proportion of the global market in the coming years.
GSK and ICES will focus on developing new evidence-based formulations (EBFs), or improved versions of existing drugs which can offer greater patient benefits. EBFs are also known as value-added formulations, or incrementally modified drugs.
“Collaborating with GSK provides an opportunity for us to further our research and deepen our capabilities in formulation science with skilled scientists and technical expertise,” said Keith Carpenter, executive director at ICES. “This venture will enable us to develop future scientists and laboratory analysts with the right skills to grow this industry in Singapore.”
According to a report by Roland Berger Strategy Consultants, growth in emerging markets – especially China, Brazil, India and Russia – will constitute close to 40 per cent of the global pharmaceutical market by 2016.