Kuala Lumpur, September 10, 2011
Biocon, Asia's premier biotechnology company, today held a project commencement ceremony for its biopharmaceutical manufacturing and research and development facility in Bio-XCell, a custom-built biotechnology park and ecosystem in Iskandar Malaysia, Johor. The Chief Minister of Johor, Y.A.B. Dato' Haji Abdul Ghani bin Othman unveiled the plaque commemorating the project’s initiation. In the first phase, Biocon proposes to invest around RM500 million (approximately $161 million) in this facility, which is targeted to be operational by 2014. The investment is the largest for the Malaysian healthcare biotechnology sector thus far.
"The world-class infrastructure, fiscal and financial incentives, and the initiatives of the State Government of Johor to promote bio-manufacturing, make Johor a compelling destination for establishing our global scale manufacturing facility for Biopharmaceuticals. This facility will cater to the global requirements for Biocon's range of Biosimilar insulin and insulin analogs for diabetes treatment, being commercialized by Pfizer Inc.," said Biocon Chairman and MD Kiran Mazumdar-Shaw.
The project will also focus on research and development and production of other biopharmaceutical products at a later phase. The plant will be built in compliance with US FDA cGMP standards.
Biocon signed a Memorandum of Understanding with the Malaysian Biotechnology Corporation SdnBhd (BiotechCorp) to establish the facility in Bio-XCell Malaysia on January 22, 2010. The decision to invest in this initiative was driven by Malaysia’s strategic location, the country's growing role as a rapidly developing global biotech hub, and the enabling Bio-XCell Ecosystem which offers comprehensive support through high end infrastructure, human resource and related services.
"Bio-XCell completes the infrastructure that we have built for the biotechnology industry. The soft infrastructure through the BioNexus programme is an attractive proposition for both local and foreign companies. Bio-XCell, with its focus on manufacturing and R&D, provides the hard infrastructure – conducive space and services specifically for biopharma, healthcare and industrial biotechnology players."
"Biocon's entry into Bio-XCell will further stimulate growth for the sector, providing commercial opportunities for Malaysian biotechnology's small and medium enterprises and promote a more vigorous domestic direct investment," commented Dato' Dr Mohd Nazlee Kamal, Chairman of Bio-XCell and CEO of BiotechCorp.
About Biocon Limited
Established in 1978, Biocon Limited (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is India’s largest biotechnology company by revenue. The Group, promoted by Ms. Kiran Mazumdar-Shaw, is a fully-integrated, innovation-driven healthcare enterprise with a strategic focus on biopharmaceuticals and research services. Biocon's value chain traverses the entire length of discovery, development and commercialization of novel therapeutics. With successful initiatives in clinical development, bio-processing and global marketing, Biocon delivers products and solutions to partners and customers in approximately 75 countries across the globe. Many of these products have USFDA and EMEA acceptance. Biocon's robust product offering includes the world's first recombinant human insulin, INSUGEN(R) and India's first indigenously produced monoclonal antibody BIOMAb-EGFR(TM). For more information, visit www.biocon.com