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FRONT PAGE: Biocon to set up Rs 715-cr biosimilar facility in Malaysia.
from BUSINESS LINE, October 28, 2010 Bangalore, Oct. 27 - Biocon Ltd will set up its first overseas manufacturing and research facility in Malaysia with an initial investment of around Rs 715 crore (ringgit 500 million), the company announced on Wednesday.
The USFDA-compliant plant would be operational by 2014 and make high-end biosimilars and biopharmaceuticals for the global market.
It is said to be the biggest biotechnology investment in Malaysia.
Only last week, Biocon signed a $350-million (Rs 1,550-crore) deal with Pfizer to globally market its four insulin biosimilars. Biocon's Chairman and Managing Director, Ms Kiran Mazumdar- Shaw, said the …
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