ID :
120465
Wed, 05/05/2010 - 21:56
Auther :
Shortlink :
https://oananews.org//node/120465
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PAKISTAN`S GETZ PHARMA TO INVEST OVER US$45 MLN IN MALAYSIA
From Leslean Arshad
CHICAGO, May 5 (Bernama) -- Pakistan's largest branded generic
pharmaceutical company, Getz Pharma (Pte) Ltd, plans to invest over US$45
million (US$1=RM3.20) in Malaysia for research and development, production and
commercialisation of sterile injectables and other biopharmaceutical products.
The undertakings would be done via its Malaysian outfit, Getz Pharma
Malaysia Sdn Bhd, it was announced by Malaysian Biotechnology Corp (BiotechCorp)
at Malaysian Pavilion at the BIO International Convention here yesterday.
BiotechCorp, which is in charge of facilitating the country's biotechnology
industry, made several announcements and developments in relation to biotech
companies and related investments after the opening of the pavilion by Science,
Tecnology and Innovation Minister Dr Maximus Ongkili Tuesday.
BiotechCorp said Getz Pharma Malaysia, which was currently applying for
BioNexus status, had proposed to acquire six hectares at techpark@Enstek, Bandar
Enstek Nilai for its facility.
Getz Pharma Malaysia's products are primarily targeted at the regulated
markets such as the US, the European Union, Australia, Japan and the
semi-regulated markets such as Rusia, it said.
It said BioNexus-status company, Stempeutics Research Malaysia Sdn Bhd, has
obtained Malaysia's Health Ministry's clearance to conduct clinical trials on
patients with Ischemic cerebral stroke.
The clinical trials will study the safety and efficacy of its
investigational new drug, it said.
Stempeutics is a group company of Bangalore-based Manipal Education &
Medical Group, which operates educational and healthcare institutions in India
and internationally.
BiotechCorp said another BioNexus-status company, Siogen Biotech, would
collaborate with Veeda Clinical Research (SEA) Sdn Bhd on drug delivery
technology programme which would have significant impact on oncology drugs.
Earlier, Ongkili said 51 per cent of the current 158 BioNexus-status
companies were already generating revenues.
"Revenue generated thus far by these companies was close to RM537 million
(US$1=RM3.2) and 60 per cent of it was derived from exports," he said.
-- BERNAMA
CHICAGO, May 5 (Bernama) -- Pakistan's largest branded generic
pharmaceutical company, Getz Pharma (Pte) Ltd, plans to invest over US$45
million (US$1=RM3.20) in Malaysia for research and development, production and
commercialisation of sterile injectables and other biopharmaceutical products.
The undertakings would be done via its Malaysian outfit, Getz Pharma
Malaysia Sdn Bhd, it was announced by Malaysian Biotechnology Corp (BiotechCorp)
at Malaysian Pavilion at the BIO International Convention here yesterday.
BiotechCorp, which is in charge of facilitating the country's biotechnology
industry, made several announcements and developments in relation to biotech
companies and related investments after the opening of the pavilion by Science,
Tecnology and Innovation Minister Dr Maximus Ongkili Tuesday.
BiotechCorp said Getz Pharma Malaysia, which was currently applying for
BioNexus status, had proposed to acquire six hectares at techpark@Enstek, Bandar
Enstek Nilai for its facility.
Getz Pharma Malaysia's products are primarily targeted at the regulated
markets such as the US, the European Union, Australia, Japan and the
semi-regulated markets such as Rusia, it said.
It said BioNexus-status company, Stempeutics Research Malaysia Sdn Bhd, has
obtained Malaysia's Health Ministry's clearance to conduct clinical trials on
patients with Ischemic cerebral stroke.
The clinical trials will study the safety and efficacy of its
investigational new drug, it said.
Stempeutics is a group company of Bangalore-based Manipal Education &
Medical Group, which operates educational and healthcare institutions in India
and internationally.
BiotechCorp said another BioNexus-status company, Siogen Biotech, would
collaborate with Veeda Clinical Research (SEA) Sdn Bhd on drug delivery
technology programme which would have significant impact on oncology drugs.
Earlier, Ongkili said 51 per cent of the current 158 BioNexus-status
companies were already generating revenues.
"Revenue generated thus far by these companies was close to RM537 million
(US$1=RM3.2) and 60 per cent of it was derived from exports," he said.
-- BERNAMA
