Pharmaceutical firm to invest USD 300 mn in Malaysia
Malladi Drugs and Pharmaceutical Ltd will invest up to USD 300 million over the next three to five years to set up its global "one-stop shop" in Malaysia.
By Agencies |
KUALA LUMPUR: Malladi Drugs and Pharmaceutical Ltd will invest up to USD 300 million over the next three to five years to set up its global "one-stop shop" in Malaysia, according to the Malaysian Biotechnology Corp (BioTech).
Malladi is an Active Pharma Ingredient (API) manufacturer based in Chennai, India, while BioTech is the main government agency for promoting biotechnology industry in Malaysia.
BioTech chief executive officer Iskandar Mizal Mahmood said here yesterday Malladi had yet to pick a site but would be encouraged to locate at one of the economic corridors in the country, in line with Prime Minister Abdullah Ahmad Badawi's call for those areas to be driven by biotechnology.
"The investment entails the development of the entire value chain within the contract manufacturing facility, starting from the API formulation," he told reporters after the opening of BioMalaysia 2008 biotechnology exhibition and conference here.
Earlier, Malladi handed over a business plan for its operations here to BioTech. In it, the firm says its aims to expand into other areas of service offerings as a contract research organization in Malaysia, including for the segment of oncology and steroids, and beta-lactums.
Malladi is an Active Pharma Ingredient (API) manufacturer based in Chennai, India, while BioTech is the main government agency for promoting biotechnology industry in Malaysia.
BioTech chief executive officer Iskandar Mizal Mahmood said here yesterday Malladi had yet to pick a site but would be encouraged to locate at one of the economic corridors in the country, in line with Prime Minister Abdullah Ahmad Badawi's call for those areas to be driven by biotechnology.
"The investment entails the development of the entire value chain within the contract manufacturing facility, starting from the API formulation," he told reporters after the opening of BioMalaysia 2008 biotechnology exhibition and conference here.
Earlier, Malladi handed over a business plan for its operations here to BioTech. In it, the firm says its aims to expand into other areas of service offerings as a contract research organization in Malaysia, including for the segment of oncology and steroids, and beta-lactums.
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