01.31.17
Bangladesh-based Beximco Pharmaceuticals, a manufacturer of generic pharmaceutical products and active pharmaceutical ingredients (API), has formed a joint venture (JV) with BioCare Manufacturing based in Malaysia.
Beximco Pharma will provide full technical support to BioCare for the establishment of manufacturing facilities in Seri Iskandar Pharmaceutical Park, Perak, Malaysia to produce specialized pharmaceutical products. Beximco will be issued 30% of the equity shares in the JV company. BioCare will operate and fund the facility.
In the first phase of the project, an international standard metered dose inhaler facility has been created which has already received good manufacturing practices (GMP) approval from Ministry of Health (MoH) Malaysia.
The JV is intended to manufacture and supply differentiated medical products, such as inhalers, under the Malaysian government’s Economic Transformation Program. The Malaysian government’s initiatives are aimed at increasing investment in the country’s pharmaceutical industry to provide dedicated drug manufacturing facilities, improve generic drug capabilities, and promote local production to qualify for government procurement.
BioCare Group, the majority shareholder of BioCare, has a strong presence in a range of key therapeutic segments in both government and private healthcare sectors in Malaysia.
“This is our first overseas manufacturing collaboration and I believe our JV with BioCare will help address the unmet needs of patients and physicians by supporting the Malaysian government’s initiative to promote the local pharmaceutical industry,” said Nazmul Hassan, managing director, Beximco Pharma. “This kind of collaboration is also in line with our aspiration to continue to strengthen our global presence as a generic pharmaceutical company.”
Beximco Pharma will provide full technical support to BioCare for the establishment of manufacturing facilities in Seri Iskandar Pharmaceutical Park, Perak, Malaysia to produce specialized pharmaceutical products. Beximco will be issued 30% of the equity shares in the JV company. BioCare will operate and fund the facility.
In the first phase of the project, an international standard metered dose inhaler facility has been created which has already received good manufacturing practices (GMP) approval from Ministry of Health (MoH) Malaysia.
The JV is intended to manufacture and supply differentiated medical products, such as inhalers, under the Malaysian government’s Economic Transformation Program. The Malaysian government’s initiatives are aimed at increasing investment in the country’s pharmaceutical industry to provide dedicated drug manufacturing facilities, improve generic drug capabilities, and promote local production to qualify for government procurement.
BioCare Group, the majority shareholder of BioCare, has a strong presence in a range of key therapeutic segments in both government and private healthcare sectors in Malaysia.
“This is our first overseas manufacturing collaboration and I believe our JV with BioCare will help address the unmet needs of patients and physicians by supporting the Malaysian government’s initiative to promote the local pharmaceutical industry,” said Nazmul Hassan, managing director, Beximco Pharma. “This kind of collaboration is also in line with our aspiration to continue to strengthen our global presence as a generic pharmaceutical company.”
