An I told you so edition
I wasn't too surprised that the Straits Times eventually reported on the growth of the biotech industry in India.
As usual, they are 1. slow to report on any new trends, and 2. when they do, they leave out the most important points.
Because it's way too sensitive to claim that India's biotech industry is capable of outpacing Singapore's in just a few years, the article concentrates on local Indian pharmaceutical companies who are starting to get 'into the game'.
No mention of the billions of dollars US pharmcos are moving to India's biotech outsource companies, in fact, no mention at all of any biotech outsourcing. Why? Because that one word would set off all the alarm bells in Singapore.
But it is obvious that there has to be a vast amount of outsourcing from foreign pharmcos, in order for a huge pool of locals interested and skilled enough to amass and build their own pharmaceutical companies.
One of these days, I will explain why outsourcing is not just a matter of free trade, why it hurts job markets, and why it needs to be regulated.
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