Malaysian firm to sign $ 2 mn deal with Avestha
A leading Malaysian drug and biotechnology firm will sign a USD two million deal with India's Avestha Gengraine Technologies Pvt Ltd to manufacture and supply salines.
By PTI |
KUALA LUMPUR: A leading Malaysian drug and biotechnology firm will sign a USD two million deal with India's Avestha Gengraine Technologies Pvt Ltd to manufacture and supply salines.
"This deal is important to us as the Indian biotechnology firm is one of Inno Biologics Sdn Bhd's first few clients which will use up almost the entire capacity," an official of the Malaysian company said.
The deal is expected to be signed soon. Avestha is India's leading biotechnology and bio-informatics company.
The deal is the result of a MoU signed during Bio 2007, the world's largest annual biotechnology convention held in Boston recently.
Inno Biologics, which is a state-owned contract manufacturers, makes generic drugs for other companies and is Malaysia's first full fledged biotechnology firm and operates the country's first bio-pharmaceutical plant.
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