Business

Monday November 16, 2009

Biotech sector fundamentals expected to remain favourable


PETALING JAYA : Many of the biotechnology industry’s fundamentals, such as the number of products in clinical trials, new product approvals, profitable biotech companies and industry mergers & acquisitions, are expected to remain favourable, according to Malaysian Biotechnology Corp Bhd (BiotechCorp)

It said in a statement, to date, total revenue generated by BioNexus companies amount to RM546.5mil while total R&D expenses amounts to RM33.2mil,

It said while it would like to see an increase in R&D spend as a percentage of revenue, the present situation reflected the growth of young and developing biotech companies in the capacity building stage.

Chief executive officer Datuk Iskandar Mizal Mahmood said: “Within four years of our establishment, we have developed 135 biotech companies under the BioNexus status, across agricultural, healthcare and industrial biotechnology, accounting for RM1.4bil in total approved investments.”

This includes international investments from Britain, United States, France, Germany, Belgium, Italy, India, China, Japan, Taiwan, Hong Kong, Singapore, Thailand, Australia and New Zealand, he said adding that that throughout Phase 1 of the National Biotechnology Policy, one of BiotechCorp’s focus areas was on increasing awareness and encouraging the interest that leads to the creation of bio entrepreneurs.

“Our immediate task is now to focus on the efforts of bringing scientific discoveries and innovations from research activities.” he said.

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