Pakistan's Getz Pharma To Invest Over US$45 Million In Malaysia

Wednesday, 05 May 2010

BERNAMA - by : 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 Datuk Seri Dr Maximus Ongkili yesterday.

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 and 60 per cent of it was derived from exports," he said.

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