Business Desk :
Beximco Pharmaceuticals Limited, the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, announces the creation of a joint venture (“JV”) with BioCare Manufacturing (M) Sdn Bhd (“BioCare”) based in Malaysia, as the Company’s first overseas manufacturing collaboration.
Under the terms of the JV, Beximco Pharma will provide full technical support to BioCare for the establishment of manufacturing facilities in Seri Iskandar Pharmaceutical Park, Perak, Malaysia to produce specialised pharmaceutical products. Beximco will be issued 30 percent 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.
Whilst it is expected that the JV’s first sales from this facility will be made during 2017, the Company does not expect a significant contribution to its profits from the collaboration in the short term. However, the JV is an important testimony of the Company’s technical capability as a generic drug manufacturer.
