Biocon joins influx of Indian biotech companies to Malaysia
Indian biotechnology companies are continuing to establish operations in Malaysia, drawn by its biotech and research friendly initiatives. Biocon is about to join them, investing US$161 million in a strategic partnership. Others who have already begun operations in Malaysia include Avesthagen, Geneflux and Stempeutics Research.
Malaysia’s biotechnology policies done much to draw in foreign companies and make the country an international hub for R&D and production. There is a 10-year tax holiday, fewer restrictions on investment and access to other markets in ASEAN through free trade agreements. Even seemingly minor details like uninterrupted power supply, decent roads and cold logistics facilities can appeal to companies in countries like India, where there is plenty of innovation but often not enough appropriate or biotech-specific infrastructure to support it. Even though biotech in India is growing at around 30%, the capital-intensive industry is not attracting the kind of overseas interest seen in Malaysia.
Overseeing all this is the Malaysian Biotechnology Corporation (BiotechCorp), which says Biocon’s investment and development of high-end biopharmaceutical products will help implement Phase II of the National Biotechnology Policy: the ‘science to business’ phase.
source & article: The Economic Times
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