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22DIRECTORYOFSINGAPOREPROCESS&CHEMICALSINDUSTRIES2023/2024ApartfromMerckSanofiisbuildingadigitallyenabledplantthatcanproducethreetofourdifferentvaccinessimultaneously;HillemanLaboratoriesisestablishingR&DandproductionfacilitiesforvaccinesandbiologicsattheBiopolis;BioNTechhas taken over and convertedtheNovartisplantattheTuasBiomedicalParktoafullyintegratedmRNAmanufacturingplanttoproducearangeofnovelmRNAvaccinesanddrugsforinfectiousdiseasesandcancer;andThermoFisherScientifichassetupacontractmanufacturingplanttofillandfinishanytypeofvaccinesincludingmRNA with clientsprovidingtheactiveingredientsSpeakingatthelaunchofThermoFishersplantinMay2023DeputyPrimeMinisterHengSweeKeatsaidThermoFishersFill-FinishFacilityissignificantbecauseitwillenableendto-endmanufacturingofvaccinesandbiologicsinSingaporecontributingtotheregionsresilienceAsfill-finishisthecriticalstepinmanufacturingthefinalvaccinesanddrugstobereadyforconsumerusethisnewplantwillcomplementtherecentinvestmentsbySanofiandBioNTechbyclosingthelooponvaccineproductionlocallyMrHengaddedSetupwiththehelpoftheEconomicDevelopmentBoard(EDB)italigns with thegovernmentsinvestmentinpreparednessforfuturehealthemergenciesReboundInPharmaM&APharmaceuticalandlifesciencesmergersandacquisitions(M&A)isexpectedtobouncebackafteradifficult2022PricewaterhouseCoopers(PwC)expectsM&A(for2023)tomorecloselyresembleprioryearswithatotaldealvalueintheUS$225billiontoUS$275billionrangeacrossallsubsectors AmplecorporatecashtheneedtocontinuetoinvesttoaddressmediumtermpipelinegapsandtheresettingofbiotechvaluationswillprovidethebackdropforanactiveyearInitsreportpublishedinDecember2022PWCexpectsoncologyandimmunologytoremainthekeyfocusareasthoughtherewillbeincreasinginterestsincentralnervoussystemandcardiovasculardiseasesaswellasvaccinesMosttransactionswillbeintherangeofUS$5toUS$15billionwithpossiblyoneortwobiggerdealsintheUS$20-US$40billionrangeWithfearsofrecessionandinflation2022wasachallengingyearforpharmaM&AwithdealvalueandvolumeatmultiyearlowsPwCestimatedthetotaldealvaluetobeUS$1588billionin2022a41%dropcomparedwiththepreviousyearwhilethedealvolumedipped30%to258DuringtheyearPfizerandAmgenwerethetwomostactivecompaniesinpharmaM&AABain&CoM&AreportonhealthcareandlifesciencesinJanuary2023notedPfizersacquisition ofBiohavenPharmaceuticals boosteditscommercialisedassetsintheneurologicalandmigrainespacewhileitspurchaseofGlobalBloodTherapeuticswasadoublingdowninrarehematologyAmgenspurchaseofChemoCentryxaddedtoitsinflammationandnephrologyportfolio anditspending acquisitionofHorizonaddsmultipleon-marketandpipelineassetstodrivefuturegrowthTheAmgenHorizondealforUS$285billionwhichwasannouncedinDecember2022wasapprovedbyshareholdersinFebruary2023FewerNewFDADrug ApprovalsTheUSFederalDrugAdministration(FDA)snewdrugapprovaldippedtoalowof37drugsin2022wellbelowtheannualaverageof51between2017and2021eventhoughitreceivedsimilarnumberofdrugapplicationsItwassuggestedthatthiswasduetomorestringentcriteriaonapprovalsfollowingtheAduhelmdebacleInJune2021theFDAgrantedacceleratedapprovalofBiogensAduhelm(aducanumab-avwa)forAlzheimersbut