Singapore.Singapore: The Standards, Productivity and Innovation Board (SPRING) of Singapore, in conjunction with other government agencies, has instituted a new Good Laboratory Practice (GLP See gateway location protocol. ) program for biomedical companies and local labs. Under the program, a company or a lab's nonclinical studies data will be accepted in 30 Organization for Economic Cooperation and Development Organization for Economic Cooperation and Development (OECD), international organization that came into being in 1961. It superseded the Organization for European Economic Cooperation, which had been founded in 1948 to coordinate the Marshall Plan for European (OECD OECD: see Organization for Economic Cooperation and Development. ) countries if it complies with SPRING Singapore's GLP standards. This acceptance will abnegate the need for retests and will cut the time to market for new products. The biomedical sciences market in Singapore is expected to grow to SGD SGDIn currencies, this is the abbreviation for the Singapore Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 25 billion ($16.2 billion) by 2015, and the chemicals industry is estimated to be worth SGD 75 billion ($48.7 billion) by 2018. Source: SPRING Singapore |
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