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Biocon to invest $161 Milion in Malaysian unit
Thursday, 28 October 2010, 17:12 IST
New Delhi: Making a big foray into the Malaysian market, biotechnology major Biocon said it will set up a biomanufacturing and R&D facility there with an initial investment of $161 million (about 
715 crore).
The company said it has signed business intent documents with Malaysian Biotechnology Corporation SdnBhd (BiotechCorp) for the project.
Biocon Chairman and Managing Director Kiran Mazumdar Shaw said that the investments will be in a phased manner with $161 million going in for the first phase. The proposed facility will be operational by 2014.
"We are pleased to be an early mover in this emerging opportunity as we dovetail our research and biomanufacturing operations with those in Malaysia to gain a global competitive advantage," she added.
The proposed facility will come up at Bio-Xcell, a biotechnology park and ecosystem in Iskandar Malaysia, Johor.
"The project will focus on research and development and production of highend biosmiliars and other biopharmaceutical products," added Shaw.
Commenting on Biocon's investment, Malaysian BioXCell SdnBhd, Dato' Chairman and CEO Iskandar Mizal Mahmood said it will propel the Malaysian industry to the next level.
"It will be a catalyst in our commercialisation efforts as we enter phase two of our National Biotechnology Policy - the science to business phase," Mahmood added.
Source: PTI
715 crore).
The company said it has signed business intent documents with Malaysian Biotechnology Corporation SdnBhd (BiotechCorp) for the project.
Biocon Chairman and Managing Director Kiran Mazumdar Shaw said that the investments will be in a phased manner with $161 million going in for the first phase. The proposed facility will be operational by 2014.
"We are pleased to be an early mover in this emerging opportunity as we dovetail our research and biomanufacturing operations with those in Malaysia to gain a global competitive advantage," she added.
The proposed facility will come up at Bio-Xcell, a biotechnology park and ecosystem in Iskandar Malaysia, Johor.
"The project will focus on research and development and production of highend biosmiliars and other biopharmaceutical products," added Shaw.
Commenting on Biocon's investment, Malaysian BioXCell SdnBhd, Dato' Chairman and CEO Iskandar Mizal Mahmood said it will propel the Malaysian industry to the next level.
"It will be a catalyst in our commercialisation efforts as we enter phase two of our National Biotechnology Policy - the science to business phase," Mahmood added.
Source: PTI