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  • fermata746 fermata746 May 6, 2010 10:44 AM Flag

    Hate to say it

    Even Abbott in the pharmatheutical industry is outsourcing research jobs, what is (to be) left for the people at home??

    See Press Release yesterday: Abbott Opens Asia-Pacific Nutrition Research & Development Center in Singapore
    http://finance.yahoo.com/news/Abbott-Opens-AsiaPacific-prnews-3833199964.html?x=0&.v=1

    QUOTES:

    The center is Abbott's largest nutrition R&D facility outside of the U.S., and Singapore's first nutrition R&D site creating science-based nutritional products for infants, children and adults.

    The new Abbott Asia-Pacific Nutrition R&D Center is the latest addition to Abbott's growing presence in Singapore and the region. The center at Singapore's Biopolis Research Park is Abbott's fifth expansion in the region in less than 18 months.

    • Analytical R&D Laboratory in Singapore (January 2009)
    • Abbott Manufacturing Singapore (February 2009)
    • Pharmaceutical R&D lab in Shanghai, China (March 2009)
    • Nutrition manufacturing in Guangzhou, China (March 2009)
    • Abbott Asia-Pacific Nutrition R&D Center in Singapore (May 2010)

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    • P.S.

      Pharmatheutical industries in particular need a lot of water and the cleanest. Abbott's investments in Singapore and southern China are not making any sense, because:

      Singapore is actually a little city with water supplied largely by its neighboring countries; waters in China, especially in the southern and eastern regions, are (being) polluted heavily by unregulated industrial developments.

      Let's hope that the products developed and manufactured in Asia won't be dumped back to the US.

      • 3 Replies to fermata746
      • ... appears to be the capital globalization driven by unconstrained greed:

        Big corporations outsource their capital & jobs overseas for maximum profits from sweatshops (while small businesses take advantage of the illegals smuggled into the U.S.)
        _________________________

        News 1:

        By Brian Orelli , May 21, 2010

        At this point, it's become hard for investors to find a drugmaker that isn't heading overseas. Just last week at their analyst meeting, Merck (NYSE: MRK) executives were talking up the emerging-market opportunity. Eli Lilly (NYSE: LLY) has been cutting jobs in the U.S., but adding them in emerging markets like China.

        On the one hand, low-margin growth in emerging markets is better than no growth, but on the other, there's only so much capital that pharmaceutical companies have available to deploy. Investing in emerging markets comes at a cost of not investing in higher-reward (albeit higher-risk) licensing of branded drugs.

        http://www.fool.com/investing/international/2010/05/21/abbott-learns-to-say-low-margin-in-hindi.aspx
        --------------

        News 2:

        By Tim Culpan, May 17, 2010:

        IPhone Builder Hon Hai Turns to Monks as Worker Suicides Mount
        http://preview.bloomberg.com/news/2010-05-17/apple-supplier-hon-hai-turns-to-counselors-monks-as-worker-suicides-mount.html

        Worker Deaths

        Hon Hai Precision Industry Co., the group’s flagship unit, fell 1.7 percent to close at NT$141 in Taipei trading, extending the stock’s drop this year to 6.9 percent. By comparison, Taiwan’s benchmark Taiex index has dropped 7.2 percent.

        A worker died from injuries after falling from a company dormitory on May 14, three days after a 24-year-old worker jumped to her death from an apartment block in Shenzhen, according to Hon Hai statements last week.

        Excluding the May 14 death, whose cause has yet to be determined, seven Hon Hai employees have killed themselves this year and two workers have attempted suicide, Ding said.

        On July 16 last year, 25-year-old Sun Tanyong jumped off a Shenzhen dormitory after one of the 16 iPhone prototypes he was assigned to mail went missing. Apple said at the time that the company was “saddened by the tragic loss.” Jill Tan, a Hong Kong-based spokeswoman for Apple, declined to comment on the recent Hon Hai deaths.

        “Recently, there’s been a series of unfortunate events at Foxconn,” Hon Hai said in a May 12 statement. “Although the events aren’t closely connected to the operations and management of Foxconn, we hope to improve our management and increase mental-health counseling.”

      • it seems you are a US employee of Abbott ? Yes, i hope Abbott keeps all its research in the US but at asian salaries pls.

      • ABT's Singapore investment won't be impacted by water. In fact, Singapore has invested heavily in new organic water sources and will be self-sufficient in 2011-2012. I wouldn't fret about ABT's investment in the 4th wealthiest county (GDP per capita) on the planet with one of the world's top three busiest ports ---plenty of money, smart as heck, and their water supply will be one of the best in the world.

        ABT's investment there and in India, whose population will soon exceed China's, are smart uses of our (investors') funds..........

    • It is evident by the actions of our political masters that we peons don't deserve jobs and that the drug companies are inherently evil. Healthcare is too important to be left to healthcare professionals, drug discoverers, drug suppliers, medical equipment makers, and those who would radically streamline the system and create transparency. No, Barky, Rahm, Nancy and Harry alone know what is best for us.

    • Ferma,quit quoting a lot of silly articles and try some independent thinking that may have some business logic that backs up the process. I read the comics every Sunday and take them for what they are worth. "Entertainment."

 
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