Malaysia’s pharmaceutical industry recorded RM397.67 million of approved investment from January to September 2021, exceeding the highest full-year figure approved in 2017. The sector also achieved astounding export figures for 2021, amounting to RM2.42 billion, a 24 percent increase from 2020.
Datuk Lim Ban Hong, Deputy Minister of International Trade and Industry, commended the industry’s outstanding performance “MITI has always attached great importance to the development of the pharmaceutical industry, particularly as we progress into the new norm with COVID-19. The increasing demand for medical and healthcare services has further driven the rapid development of the pharmaceutical industry.”
The draw of high-tech firms choosing Malaysia as their base is also worth noting, MIDA has been continuously attracting and targetting high-quality tech investments in the pharmaceutical industry to strengthen the country’s position in the global value chain. One example is, Biocon establishing its footprint here.
Biocon, one of the top Asian biopharmaceutical companies, chose Malaysia to set up Asia’s largest integrated insulin manufacturing facility in 2010 at the Southern Industrial Logistics Park, Johor. The project valued at over US$350 million is among Malaysia’s highest foreign pharmaceutical investments and the first and only facility for manufacturing insulins in Malaysia.
The investment is also the first overseas bio-pharmaceuticals manufacturing and research facility for Biocon. The well-equipped, state-of-the-art manufacturing facility in Nusajaya has employed around 800 employees and is the country’s first US-FDA-certified sterile biologics facility. Over the last five years, Biocon has been supplying life-saving insulin products to patients in Malaysia from its Johor facility.
Biocon, is also looking to expand the facility and to turn into a global hub for insulin manufacturing.
