Room for growth in R&D sector, says Mida

07 Dec 2017

Malaysia is seeking for more aggressive investments into the research and development (R&D) sector, inline with its objective to develop a strong linkage between industries and tertiary research institutions.

Malaysian Investment Development Authority (Mida) CEO Datuk Azman Mahmud said the linkages will then provide advance technological improvements with commercial potentials that will help to push Malaysia’s industries ahead of its competitors.

There is certainly more room for growth, especially in the R&D aspect of the pharmaceutical industry, which Azman said has continued to see significant growth in opportunities, despite economic uncertainty.

“From 2012 to September 2015, approved investments in the pharmaceutical industry amounted to RM1.9 billion, of which a bulk of the investments came from foreign sources, which contributed RM1.3 billion or 70% of total investments,” he said at the opening of Oncogen Pharma Sdn Bhd’s Oncology Active Pharmaceutical Ingredients (API) R&D in Shah Alam yesterday.

Oncogen Pharma is a subsidiary of the Dubai-based pharmaceutical company, Scitech Ltd.

The facility was the first Oncology API Research Centre in the Asean region, which complies to US Food and Drug Administration (FDA) standards.

Azman said Oncogen Pharma will not only undertake research, develop and patent API oncology products, but will also manufacture these products in the country.

The company is also expected to contribute over RM100 million to Malaysia’s export in the first five years, by shipping this product over to various potential markets.

“Oncogen will be able to enjoy the market access to free trade agreement (FTA) network through the agreements that Malaysia has signed with many countries.

“Additionally, the company stands to benefit preferential access for its products from Malaysia’s potential FTA with the European Union as well as the Trans-Pacific Partnership member countries,” he pointed out.

Oncogen CEO Junaid Waheed said by year-end, the company would complete its Formulation Research and Development Centre based in Shah Alam, to be followed by the construction of two API and formulation plants in the next three years.

“After the completion of these projects, Oncogen Pharma will have a fully integrated oncology manufacturing establishment in Malaysia.

“We have already acquired two pieces of industrial land in Bandar Enstek, Negri Sembilan, for both the plants. Basic designs for these two plants are already completed,” he said.

Junaid said Malaysia was selected among many other countries due to its strategic importance in the region, ease of operations, quality of infrastructure and a talented pool of upcoming young scientists.

The vision of Oncogen Pharma is to develop and manufacture a niche, low-volume, high-potency products in US FDA approved plants.

 

Source: https://themalaysianreserve.com/2017/04/03/room-for-growth-in-rd-sector-says-mida/


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