2 BTO projects with shorter waiting times to go on sale in July; SM Lee does not expect US tariffs to be temporary: Singapore live news
Senior Minister Lee Hsien Loong believes that once trade and economic policies are set, it becomes politically unfeasible to remove them. Therefore, Singapore should not expect current US tariffs to be rolled back even after US President Donald Trump is no longer in office.
Read more in our live blog below, including the latest local and international news and updates:
Around 1,400 BTO flats with waiting times of less than three years located in Clementi and Bukit Panjang will go on sale in July.
Minister for National Development Chee Hong Tat revealed the news in a Facebook post on 16 July as part of an announcement that over 10,000 new flats – comprising of BTO and SBF flats – will be offered in the upcoming sales exercise.
"About 5,500 BTO flats will be offered across various locations islandwide. This includes around 1,400 flats with shorter waiting times of less than three years located at Clementi Emerald and Bangkit Breeze in Bukit Panjang," Chee said.
Over 4,600 balance flats will also be put up for sale in July by HDB. You can read more on this story in the previous link.
Senior Minister Lee Hsien Loong believes the impact of US President Donald Trump's trade policies are long lasting and the world will not simply go back to "status quo" even after his presidency ends.
SM Lee, who was speaking at the Economic Society of Singapore's (ESS') annual dinner on 15 July, said that once tariffs are in place it becomes politically unfeasible to remove them as businesses which emerged from the new policy will push back against any rollback. He used the example of former US president Joe Biden who did not overturn earlier tariffs that Trump had imposed on China in his first term.
"It will not go back to the status quo in trade policy, in economic policy. Once you make a move, you can't take it back," Lee said.
Instead, SM Lee has urged countries that support free trade to work closer together and adapt to evolving trade landscapes.
You can read more on SM Lee's comments from the dinner, here.
A woman has been arrested in Thailand for allegedly seducing a number of Buddhist monks into sexual relationships – and then blackmailing them to cover up their intimate acts.
At least nine abbots and senior monks reported to be involved in the scandal have been disrobed and cast out of the monkhood, the Royal Thai Police Central Investigation Bureau said.
Wilawan Emsawat was arrested at her home in Nonthaburi province, north of Bangkok, on charges including extortion, money laundering and receiving stolen goods.
According to police, the 30-year-old woman received around 385 million baht (S$15.2 million) in the past three years. However, most of the money has already been spent on online gambling websites, it has been revealed.
Nominations for the 2025 Emmy Awards have been announced.
Ben Stiller's dystopian office drama 'Severance' led all shows with a total of 27 nominations – including leading acting nods for stars Adam Scott and Britt Lower.
Seth Rogen's 'The Studio' secured 23 nominations making it a good day for Apple TV+ which also produces 'Severance'. Oscar-winning director Martin Scorsese received his first acting Emmy nomination for his cameo in 'The Studio', and his daughter could not wait to share the 82-year-old's reaction to the news on social media.
But it was HBO Max who led the overall network tally with 142 nominations, thanks to shows 'The Penguin', 'The White Lotus', 'The Last of Us' and 'Hacks'.
Netflix still holds the record for most nominations ever with 160 secured back in 2020. However, one of Netflix's most popular shows, 'Squid Game' saw its final seasons snubbed by the Emmys this year.
US President Donald Trump has clarified that he does not want Ukraine to target Moscow with strikes.
The development comes after the Financial Times reported Trump had privately encouraged Ukrainian President Volodymyr Zelensky to escalate attacks on Russia. FT, citing anonymous sources, said Trump also asked if Ukraine could do so if the US provided the country long-range weapons.
However, the White House – in a statement – told the BBC that Trump was "merely asking a question, not encouraging further killing."
Trump has given Russia 50 days to make a deal with Ukraine or face 100% tariffs.
Prime Minister Lawrence Wong said Las Vegas Sands' new US$8 billion (S$10.3b) project to expand Singapore's iconic Marina Bay Sands resort will "refresh our skyline."
PM Wong was speaking at the groundbreaking ceremony on Tuesday (15 July) and added that the plans for Marina Bay were part of Singapore's broader, more ambitious transformation of its entire southern waterfront.
The new MBS complex is expected to open in 2031, pending government approval. It is set to include a 55-storey hotel tower with 570 luxury suites and a 15,000-seat arena.
"We're writing the next chapter for Marina Bay and making an even more vibrant and inclusive destination for all to enjoy," said Wong in a Facebook post.
Las Vegas Sands co-founder Miriam Adelson, the wife of late billionaire Sheldon, was also at the ceremony, and she thanked Singapore for trusting the company. "You took a chance on us... we took a chance on you," she said.
More on Las Vegas Sands' billion-dollar bet on Singapore, here.
Criminal operations selling drug-laced vapes known as Kpods are becoming an increasing problem across multiple countries in Asia – including Singapore. Authorities have been cracking down hard on vapes and the government is also considering enhancing current enforcement laws, following a spike in seizures of Kpods.
The Straits Times recently launched its anti-vaping campaign, which saw readers share personal stories on how Kpods – and also vapes – destroyed their families.
A 35-year-old woman revealed how her husband spiralled into repeated episodes of violence and emotional outbursts while using Kpods, causing their children to fear him. "We dated for 10 years and were married for nine. Now, I don't even know who he is any more. Kpods broke our marriage and shattered our children," she said.
Another woman said she had seen both her sons experience seizures from Kpods. She went on to describe how her eldest son would 'walk around like a zombie' and she has videos of her younger son struggling to perform simple tasks such as closing the gate to their flat.
Earlier this month, a father also shared the heartbreaking story of his daughter's addiction to Kpods which he believes played a part in her tragic death at the age of 19.
Around 1,400 BTO flats with waiting times of less than three years located in Clementi and Bukit Panjang will go on sale in July.
Minister for National Development Chee Hong Tat revealed the news in a Facebook post on 16 July as part of an announcement that over 10,000 new flats – comprising of BTO and SBF flats – will be offered in the upcoming sales exercise.
"About 5,500 BTO flats will be offered across various locations islandwide. This includes around 1,400 flats with shorter waiting times of less than three years located at Clementi Emerald and Bangkit Breeze in Bukit Panjang," Chee said.
Over 4,600 balance flats will also be put up for sale in July by HDB. You can read more on this story in the previous link.
Senior Minister Lee Hsien Loong believes the impact of US President Donald Trump's trade policies are long lasting and the world will not simply go back to "status quo" even after his presidency ends.
SM Lee, who was speaking at the Economic Society of Singapore's (ESS') annual dinner on 15 July, said that once tariffs are in place it becomes politically unfeasible to remove them as businesses which emerged from the new policy will push back against any rollback. He used the example of former US president Joe Biden who did not overturn earlier tariffs that Trump had imposed on China in his first term.
"It will not go back to the status quo in trade policy, in economic policy. Once you make a move, you can't take it back," Lee said.
Instead, SM Lee has urged countries that support free trade to work closer together and adapt to evolving trade landscapes.
You can read more on SM Lee's comments from the dinner, here.
A woman has been arrested in Thailand for allegedly seducing a number of Buddhist monks into sexual relationships – and then blackmailing them to cover up their intimate acts.
At least nine abbots and senior monks reported to be involved in the scandal have been disrobed and cast out of the monkhood, the Royal Thai Police Central Investigation Bureau said.
Wilawan Emsawat was arrested at her home in Nonthaburi province, north of Bangkok, on charges including extortion, money laundering and receiving stolen goods.
According to police, the 30-year-old woman received around 385 million baht (S$15.2 million) in the past three years. However, most of the money has already been spent on online gambling websites, it has been revealed.
Nominations for the 2025 Emmy Awards have been announced.
Ben Stiller's dystopian office drama 'Severance' led all shows with a total of 27 nominations – including leading acting nods for stars Adam Scott and Britt Lower.
Seth Rogen's 'The Studio' secured 23 nominations making it a good day for Apple TV+ which also produces 'Severance'. Oscar-winning director Martin Scorsese received his first acting Emmy nomination for his cameo in 'The Studio', and his daughter could not wait to share the 82-year-old's reaction to the news on social media.
But it was HBO Max who led the overall network tally with 142 nominations, thanks to shows 'The Penguin', 'The White Lotus', 'The Last of Us' and 'Hacks'.
Netflix still holds the record for most nominations ever with 160 secured back in 2020. However, one of Netflix's most popular shows, 'Squid Game' saw its final seasons snubbed by the Emmys this year.
US President Donald Trump has clarified that he does not want Ukraine to target Moscow with strikes.
The development comes after the Financial Times reported Trump had privately encouraged Ukrainian President Volodymyr Zelensky to escalate attacks on Russia. FT, citing anonymous sources, said Trump also asked if Ukraine could do so if the US provided the country long-range weapons.
However, the White House – in a statement – told the BBC that Trump was "merely asking a question, not encouraging further killing."
Trump has given Russia 50 days to make a deal with Ukraine or face 100% tariffs.
Prime Minister Lawrence Wong said Las Vegas Sands' new US$8 billion (S$10.3b) project to expand Singapore's iconic Marina Bay Sands resort will "refresh our skyline."
PM Wong was speaking at the groundbreaking ceremony on Tuesday (15 July) and added that the plans for Marina Bay were part of Singapore's broader, more ambitious transformation of its entire southern waterfront.
The new MBS complex is expected to open in 2031, pending government approval. It is set to include a 55-storey hotel tower with 570 luxury suites and a 15,000-seat arena.
"We're writing the next chapter for Marina Bay and making an even more vibrant and inclusive destination for all to enjoy," said Wong in a Facebook post.
Las Vegas Sands co-founder Miriam Adelson, the wife of late billionaire Sheldon, was also at the ceremony, and she thanked Singapore for trusting the company. "You took a chance on us... we took a chance on you," she said.
More on Las Vegas Sands' billion-dollar bet on Singapore, here.
Criminal operations selling drug-laced vapes known as Kpods are becoming an increasing problem across multiple countries in Asia – including Singapore. Authorities have been cracking down hard on vapes and the government is also considering enhancing current enforcement laws, following a spike in seizures of Kpods.
The Straits Times recently launched its anti-vaping campaign, which saw readers share personal stories on how Kpods – and also vapes – destroyed their families.
A 35-year-old woman revealed how her husband spiralled into repeated episodes of violence and emotional outbursts while using Kpods, causing their children to fear him. "We dated for 10 years and were married for nine. Now, I don't even know who he is any more. Kpods broke our marriage and shattered our children," she said.
Another woman said she had seen both her sons experience seizures from Kpods. She went on to describe how her eldest son would 'walk around like a zombie' and she has videos of her younger son struggling to perform simple tasks such as closing the gate to their flat.
Earlier this month, a father also shared the heartbreaking story of his daughter's addiction to Kpods which he believes played a part in her tragic death at the age of 19.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Boston Globe
25 minutes ago
- Boston Globe
Hackers exploit Microsoft SharePoint as firm works to patch
Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up Silas Cutler, a researcher at Michigan-based cybersecurity firm Censys, estimated that more than 10,000 companies with SharePoint servers were at risk. The US had the largest number of those companies, followed by the Netherlands, the UK and Canada, he said. Advertisement 'It's a dream for ransomware operators,' he said. Microsoft has been trying to shore up its cybersecurity after a series of high-profile failures, hiring new executives from places like the US government and holding weekly meetings with senior executives to make its software more resilient. The company's tech has been subject to several widespread and damaging hacks in recent years, and a 2024 US government report described the company's security culture as in need of urgent reforms. Advertisement Palo Alto Networks Inc. warned that the SharePoint exploits are 'real, in-the-wild, and pose a serious threat.' Google Threat Intelligence Group said in an e-mailed statement it had observed hackers exploiting the vulnerability, adding it allows 'persistent, unauthenticated access and presents a significant risk to affected organizations.' 'When they're able to compromise the fortress that is SharePoint, everybody is kind of at their whim because that is one of the highest security protocols out there,' said Gene Yu, CEO of Singapore-based cyber incident response firm Blackpanda. The Washington Post reported that the breach had affected US federal and state agencies, universities, energy companies and an Asian telecommunications company, citing state officials and private researchers. Researchers at Eye Security were first to identify the vulnerability, the company said. Eye Security said the vulnerability allows hackers to access SharePoint servers and steal keys that can let them impersonate users or services even after the server is patched. It said hackers can maintain access through backdoors or modified components that can survive updates and reboots of systems. Vaisha Bernard, chief hacker and co-owner of Eye Security, said his team identified a wave of attacks on Friday evening and a second wave on Saturday morning. The attacks, he said, were not targeted and instead were aimed at compromising as many victims as possible. After scanning about 8,000 SharePoint servers, Bernard said he has so far identified at least 50 that were successfully compromised. He declined to identify the identities of organizations that had been targeted, but said they included government agencies and private companies, including 'bigger multinationals.' The victims were located in countries in North and South America, the European Union, South Africa, and Australia, he added. Advertisement It was not clear who was behind the attacks, Bernard said, but 'my gut feeling says it's one group' behind them, due to similarities in the methods he observed during the attacks. A Microsoft spokesperson declined to comment beyond the company's statement. Microsoft has faced a series of recent cyberattacks, warning in March that Chinese hackers were targeting remote management tools and cloud applications to spy on a range of companies and organizations in the US and abroad. The Cyber Safety Review Board, a White House-mandated group designed to examine major cyberattacks, said last year that Microsoft's security culture was 'inadequate' following the 2023 hack of the company's Exchange Online mailboxes. In that incident, hackers were able to breach 22 organizations and hundreds of individuals, including former US Commerce Secretary Gina Raimondo. --With assistance from Lynn Doan.
Associated Press
an hour ago
- Associated Press
CMS Collaborates with SGX to Explore New Paradigms for Industrial Globalization and Pharmaceutical Expansion Overseas across Emerging Markets
SINGAPORE - July 21, 2025 ( NEWMEDIAWIRE ) - On July 15 2025, to mark the successful secondary listing of China Medical System Holdings Limited ('CMS' or the 'Group') on the Main Board of the Singapore Exchange ('SGX'), SGX and CMS co-hosted the 'Singapore and Emerging Markets Pharmaceutical Industry Growth Forum & CMS SGX Secondary Listing Appreciation Dinner'. Held in a grand fashion, the event was held at the Group's CDMO manufacturing facility, PharmaGend, which is located in Tuas, Singapore. The event brought together about 150 representatives from local government agencies, multinational pharmaceutical companies, innovative biotech companies, leading investment institutions, and the KOLs in the pharmaceutical industry. Through a series of insightful keynote speeches and panel discussions, guests engaged in in-depth exchanges and shared ideas on various topics, such as the pharmaceutical industry's development in Singapore and emerging markets across the Asia-Pacific region, the breakthroughs and overseas expansion of Chinese innovative drugs, the globalization strategies, commercialization pathways, as well as ecosystem collaboration of innovative pharmaceutical companies. The forum began with opening remarks by Ms. Caihan Chia, Head of Greater China Capital Markets and Chief Representative of Beijing Representative Office at SGX, and Ms. Louise Ho, Assistant Vice President of Healthcare Division and China Desk at the Singapore Economic Development Board. These were followed by keynote addresses from Mr. Siang Sheng Foo, Head of Investment Banking at Singapore CGS International Securities, Mr. Shriharsha Sarkar, Partner for Asia Healthcare at L.E.K. Consulting, and Ms. Kah Yean Neo, Senior Director at Singapore's Agency for Science, Technology and Research (A*STAR). Ms. Caihan Chia stated that in recent years, SGX has become increasingly attractive to Chinese enterprises through policy refinements, including tax incentives, capital support from the secondary market, and streamlined regulatory procedures. The successful listing of CMS showcases the growing interest among Chinese companies in the Singapore market. As one of leading healthcare companies, CMS's listing highlights the growing demand for medical innovation and medical service accessibility across Asia. With CMS seeking to expand its business in Southeast Asia, its listing on SGX will serve as a strategic springboard to connect with international investors and further reinforce Singapore's role as a vital capital hub. Emerging Markets: A New Growth Engine for the Global Pharmaceutical Industry Emerging markets, such as Southeast Asia and the Middle East, are becoming new growth drivers for the global pharmaceutical industry. A combination of factors, including large populations, early signs of ageing, the rise of the middle class, growing health awareness, and the increasing burden of chronic diseases, is driving higher demand for medicines and improved accessibility. According to IQVIA, by 2028, the combined pharmaceutical market size of four major emerging regions - Asia-Pacific, India, Africa & the Middle East, and Latin America - is expected to reach USD 336 - 384 billion, comparable to the USD 410 billion market size projected for Western Europe. Singapore possesses geographical and institutional advantages for accessing Southeast Asia, the Middle East, and other emerging markets. With its robust financial system, open and inclusive policy environment, and thriving pharmaceutical industry, Singapore is increasingly becoming a global hub for capital and innovation. It has also become the preferred location for regional headquarters for many Chinese enterprises expanding into Southeast Asia. Seizing Opportunity: Strategic Pathways for Chinese Innovative Pharma to Expand into Emerging Markets In Southeast Asia's six major economies (SEA6), limited healthcare coverage means that out-of-pocket payments constitute the primary source of drug expenditure. While generics dominate, branded originator drugs continue to hold significant market share in private hospitals, retail pharmacies, and clinics. Patient demand for biologics and biosimilars continues to grow. In terms of commercialization models, traditional distribution model, which relies on third-party logistics (3PL), is gradually giving way to models with stronger commercial capabilities and strategic licensing partnerships. To achieve sustainable success in Southeast Asia, pharmaceutical companies must build competitive product portfolios, leverage experienced local sales teams, and consider establishing localized manufacturing capabilities, widely seen as key strategic advantages. The CMS's Approach: Building Dual Hubs in China and Singapore to Drive End-to-End Innovation With over 30 years of experience in the Chinese market, CMS has accumulated a differentiated product portfolio and mature commercialization capabilities. Today, the Group is expanding its strategic vision across the Asia-Pacific region, using China as a foundation and Singapore as its regional hub. Through an end-to-end value chain of 'R&D–manufacturing–commercialization–investment', CMS is driving innovation to deliver high-quality pharmaceutical products and services to patients worldwide. Mr. Lam Kong, Chairman, Chief Executive and President of CMS, delivered a keynote speech titled 'New CMS, New Ascent: Three Strategies to Drive the Second Growth Curve.' He shared that since launching its 'New CMS' transformation strategy in 2018, the Group has propelled growth through three engines - product innovation, commercial transformation, and international expansion. This has enabled the Group's transition from 'China's largest CSO' to 'a pharmaceutical company in transformation,' and finally, to 'an end-to-end innovative pharmaceutical enterprise', with a sustainable second growth curve. In product innovation, driven by a three-dimensional approach of 'Licensing, Strategic partnerships, and in-house R&D', the Group has built a pipeline of nearly 40 FIC/BIC innovative drugs, five of which have been approved in China and are in large-scale clinical use. In the area of commercialization, CMS remains focused on cardio-cerebrovascular, gastroenterology, ophthalmology, and skin health specialties, while enhancing anti-cyclical resilience through a diversified ecosystem of 'New retail, E-commerce, and Consumer healthcare'. Its skin health subsidiary, Dermavon, has become a niche market leader in China and is now progressing toward a spin-off for an independent listing on the Hong Kong Stock Exchange. In the area of globalization, CMS is creating a dual-track model centred in China and Singapore, using a strategy of 'bringing in' to accelerate overseas product launches in China, and a strategy of 'moving outward' to establish an end-to-end presence in emerging markets. The successful listing on SGX will enhance its regional synergy and close the loop in the 'R&D – Manufacturing - Commercialization – Investment' global value chain, unlocking growth from emerging markets and creating a multi-regional growth framework. CMS formally launched its industrial globalization strategy in 2022. At this event, CMS's international business clusters made their debut, showcasing its forward-looking, full industry chain layout and leadership in setting a new paradigm for Chinese pharmaceutical companies expanding overseas. PharmaGend Established in 2023, PharmaGend aims to become Southeast Asia's largest and most reliable CMO/CDMO. It has a site spanning 30,000 square meters and is capable of manufacturing dosage forms such as tablets and capsules, which has been certified by the FDA and HSA, demonstrating its high-standard pharmaceutical manufacturing capabilities for global export. It has future plans to expand production lines for injections, ointments, and nasal sprays. Rxilient Established in 2021, Rxilient operates by a professional and experienced localized team, and has fully established BD, registration, marketing, and commercialization capabilities. Leveraging its unique local expertise and advantages, Rxilient can bring innovative drugs to emerging markets led by Southeast Asia and the Middle East. It has submitted marketing applications for nearly 20 drugs and medical devices across Southeast Asia, the Middle East, and regions such as Hong Kong, Macao, and Taiwan, covering the therapeutic areas of dermatology, ophthalmology, oncology, autoimmune, and central nervous system. As more drugs receive regulatory approval in these countries, Rxilient anticipates sustained and significant revenue growth. CMS R&D Established in Singapore in 2024, CMS R&D has been working on more than 10 early-stage innovative drug projects. Leveraging China's mature early-stage R&D and clinical resources, it aims to synchronize China speed with global standards to advance more Chinese innovative drugs toward globalization. HiGend Established in 2025, HiGend is a global early-stage bio-pharma incubation platform which uses a 'hub-and-spoke' model, integrating China's innovation capabilities to accelerate global R&D and commercialization. Subsequently, three panel discussions were held in succession, which facilitated an in-depth exchange between industry and capital, driving the forum to its climax. Distinguished guests from various parties freely shared insights on the continuous development and diversification of the pharmaceutical ecosystem, and jointly explored the future of pharmaceutical expansion into emerging markets. Panel Discussion 1 - Challenges and Breakthroughs: The Enduring Power of Organizational and Strategic Long-Term Vision The emerging markets of today share numerous similarities with China's pharmaceutical landscape twenty years ago, which are currently experiencing a critical period of accelerated demand release for pharmaceuticals, constituting medium- to long-term structural opportunities. Undoubtedly, these markets are diverse and complex - each country has its own unique characteristics in terms of drug regulation, healthcare insurance mechanisms, and market acceptance. However, CMS's core strength lies in its systematic commercialization capabilities, which it is now extending to emerging markets. CMS's senior management team, alongside its business partners, jointly reviewed and discussed the key factors contributing to its commercial excellence, as well as the pathways driving the Group's second growth curve. The first panel discussion was moderated by Mr. Brian Yang, Vice President for Business Development at Rxilient. Participants included Mr. Karl Luschmann, Managing Director of Pharma Stulln GmbH, and Ms. Linlang Wang (formerly the first product manager of the Augentropfen Stulln Mono Eye Drops ('Stulln') in China), General Manager of CMS's ophthalmology business, CMS Vision, among others. Collectively, they reviewed the core strategies behind the rapid, year-on-year growth of Stulln in the Chinese market- a focus on clinical value and continuous innovation in commercialization models. CMS adhered to prioritizing clinical efficacy, amassing substantial evidence to demonstrate the clinical value of Stulln in treating asthenopia, and leveraging medical advancements to drive product commercialization. Meanwhile, CMS also continuously revamped its commercialization model by establishing a full-channel retail system that integrates in-hospital and out-of-hospital sales, developing an 'online + offline' omnichannel marketing system, and adopting a diversified product portfolio strategy in consumer attributes. These concerted efforts facilitated the sustained, rapid growth and wide recognition of Stulln within the Chinese market. Mr. Victor Yin, Country Manager of Incyte Bioscience China, Mr. Huang Anjun, CEO of Dermavon (CMS's skin health business), and Mr. Lawrence He, CEO of Rxilient, jointly retraced the entire journey of launching ruxolitinib cream - a blockbuster prescription drug with consumer attributes. From the signing of the collaboration agreement and pilot launch in Hainan Boao Lecheng pilot zone, to marketing approvals in Macao, followed by Hong Kong, introduction into designated hospitals in the Greater Bay Area in China, and the NDA has been submitted in China, Singapore, and other countries or regions. Leveraging mature clinical development experience and capabilities, proven commercialization competence, a compliant operational system, and efficient execution, the group earned high recognition and trust from Mr. Victor Yin. Together, the parties have helped bring new hope to vitiligo patients in both China and Southeast Asia simultaneously. These successful commercialization experiences not only provide valuable business model references for international pharmaceutical companies entering the Chinese market, but also offer significant insights for Chinese pharmaceutical companies looking to expand into emerging markets overseas. Panel Discussion 2 - Breaking Through: Diverse Explorations for Chinese Innovative Pharmaceutical Companies to Expand into Emerging Markets Over the past three years, Chinese pharmaceutical companies have secured over USD 10 billion in upfront payments through license-out deals. However, the majority of these transactions remain concentrated in mature markets led by Europe and the United States. Looking ahead, the next engine of growth may shift toward emerging markets such as Southeast Asia, the Middle East, and Latin America - regions with a combined population of approximately 1.8 billion and per capita healthcare spending is merely one-fifth that of Western markets. While pharmaceutical demand is accelerating in these areas, challenges persist, including limited payment capacity and significant differences in regulatory systems. Whether Chinese pharmaceutical companies can effectively replicate and localize their domestic development and innovation models in these blue ocean markets, will determine the scale and sustainability of their second growth curve. The second panel discussion, moderated by Mr. Brian Yang, featured esteemed representatives from leading Chinese innovative pharmaceutical companies that are closely collaborating with CMS, including Tibet Nordicon Pharma, NeuroDawn Pharmaceutical (Ningdan Pharmaceutical), Mabgeek Biotech, and Jingze BioPharmaceutical. Using examples such as XinHuoSu (for acute decompensated heart failure), Y-3 for Injection (under development for stroke treatment), ABP-671 (under development for gout) etc., participants held in-depth discussions on topics, including 'What constitutes truly clinically valuable innovation' and 'How to implement commercialization pathways within emerging markets.' True innovation value stems from professionalism and dedicated focus. It requires researchers to remain committed to a specific field over the long term, and to validate new targets and drug structures through reverse translational research, thereby identifying their potential clinical value. Since China officially joined the International Council for Harmonization of Technical Requirements for Pharmaceuticals for Human Use (ICH) in 2017 and became a member of its steering committee, the quality of Chinese innovative pharmaceutical products has improved rapidly and has gradually gained global recognition. In addition to entering mature markets led by Europe and the U.S., Chinese innovators are increasingly turning their attention to emerging blue ocean markets such as Southeast Asia, actively exploring parallel regulatory filings in both emerging and mature markets. For innovative pharmaceutical companies, globalization strategies should be integrated into the early stages of pipeline development cycles and macro-level strategy. It is also crucial to seek out a business partner that possesses the entire value-chain capabilities - including experienced local clinical registration teams, manufacturing capacity, and commercialization operations - in order to drive efficient product launches and expand access to high-quality medical solutions across a broader range of geographies. Panel Discussion 3 – Setting Sail: Pharmaceutical Expansion into Emerging Markets The third panel discussion was moderated by Mr. Frank Hong, Managing Director of Legend Capital, engaging multiple leading pharmaceutical analysts from renowned investment banks and representatives from investment institutions in an insightful sharing and in-depth discussion on the international expansion of innovative drug products and pharmaceutical industry globalization. Participants pointed out that China's pharmaceutical industry is currently at a strategic inflection point for global expansion. The Intellectual Property (IP) licensing model has preliminarily demonstrated the global competitiveness of Chinese innovation. However, for most domestic pharmaceutical companies, this process remains in the 'isolatedbreakthrough' phase. To achieve the transition from a practice of 'one-time licensing' to 'sustained global engagement,' Chinese pharmaceutical companies must look to multinational pharmaceutical giants as a benchmark - internationalizing their commercialization, manufacturing, and R&D capabilities to build a replicable, scalable, and sustainable global industrial ecosystem. Achieving this goal is no easy task. While many Chinese pharmaceutical companies have begun exploring emerging markets, they often face challenges such as fragmented distribution channels and difficulty in standardizing operational systems. Only by maintaining conviction and building a fully integrated, internationalized ecosystem across the entire value chain can companies transform one-off licensing revenues into long-term brand equity and control of the value chain, ultimately earning a sustained voice and competitive edge in the global arena. Though the forum's spotlight has dimmed, the consensus reached continues to shine like a beacon: Southeast Asia, the Middle East, and other emerging markets are quickly becoming the next major destinations for the global pharmaceutical industry. CMS's fully localized framework covering 'Research, Manufacturing, Commercialization, and Investment' has paved the way for industrial expansion overseas, constructing a bridge to globalization. With an open and win-win attitude, the Group welcomes innovators, regulators, and capital from around the world to work together in bringing more Chinese and global innovative drugs to emerging markets, fostering international growth. CMS sincerely invites partners across all sectors to seize the growth opportunities of the Asia-Pacific region and jointly promote innovation in the pharmaceutical industry across emerging markets, so that more innovative therapies may benefit patients around the world. Media Contact: Company: China Medical System Holdings Ltd. Contact: CMS Investor Relations Email: [email protected] Website: Source: China Medical System Holdings Ltd. View the original release on
Yahoo
6 hours ago
- Yahoo
Proof & Company closes Singapore distribution arm
Singapore-based Proof & Company has entered its local distribution business into "provisional liquidation". A statement from the distributor and hospitality group said the move came after "a period of mounting challenges for the F&B [food and beverage] and hospitality industry in Singapore, including the closure of some of the company's longest standing restaurant and bar customers". Brands distributed by the company's Singapore business include Widges gin, Michters whisky and Chartreuse liqueur. Sixteen jobs are expected to be affected by the move, Proof & Company told Just Drinks. In its release, the company said the provisional liquidators would "work closely with creditors, stakeholders, and management to evaluate potential paths forward". When asked how much the distribution business owed to creditors, Proof & Company said: "The appointed liquidators are currently reviewing and finalising the financials as part of the ongoing process." The news comes after Proof & Company's Australian subsidiary Sa'Pere Drinks, trading under Proof & Company Australia, went into voluntary administration in April. When asked if any other assets were in jeopardy besides the Singapore distribution division, the group said its distribution businesses in Hong Kong and New Zealand would "continue to trade... as normal". Proof & Company also noted its cocktail bar in Singapore, 28 Hong Kong Street, "will continue to operate independently". The group also has a consultancy business called Proof Creative, based in Hong Kong, which will also continue, the company's statement read. Set up in 2012, Proof & Company's distribution portfolio for New Zealand and Hong Kong include Tried & True Vodka, Scrappy's bitters and Mancino vermouth. In its statement, the group said it was established "during a period of regional growth in the spirits and hospitality industry and is widely regarded for its innovative approach". It pointed to experiencing "markedly different" conditions in the market in the last two years. "Significant market challenges in China, an extended downturn in Australia, and a recent acceleration in bar and restaurant closures in Singapore have all impacted the company's distribution operations," the business said. "Proof & Company closes Singapore distribution arm" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
