Biocon looking at Malaysia for expansion
Biotechnology major Biocon Limited is exploring Malaysia as a destination for expansion, its top official said today.business Updated: Apr 29, 2010 18:45 IST
Biotechnology major Biocon Limited is exploring Malaysia as a destination for expansion, its top official said on Thursday.
The firm had signed a memorandum of understanding with Malaysia's Biotechnology Corporation (Biotech Corp) to explore collaboration and potential investment in Malaysia's biotechnology industry, its CMD Kiran Mazumdar-Shaw told reporters in Bangalore.
"We are in talks with Biotech Corp to manufacture biopharmaceutical products and formulations within Malaysia's Nusajaya, Iskandar Malaysia in the biotech park called the Bio-Xcell Ecosystem," she said.
Meanwhile, she said the firm will commence phase III trials for human insulin this year.
"Our third phase trials in oral insulin are likely to conclude in the latter half of the year," Mazumdar-Shaw said.
The firm's insulin segment grew 11 per cent YoY in 2009-10 with growing momentum in emerging market sales.
"As of the end of this year, we have vial and cartridge registrations in approximately 40 countries. In 2009-10, we entered several new markets like Brazil and Chile among others. We also secured registration approvals in 5 countries during this year," she said.
Biocon proposes to start phase III trials for psoriasis, rheumatoid arthritis and multiple schlerosis later this year.
To a query, Mazumdar-Shaw said the firm would look for strategic acquistions as it grows in the value chain, "it could be in finished products, brands".