Bangladeshi generics company Beximco Pharmaceuticals announced that it has entered into a joint venture with Malaysian pharma company BioCare and said that the first joint project, an MDI manufacturing facility in Seri Iskandar Pharmaceutical Park, Perak, Malaysia, has already received GMP approval from the Malaysian Ministry of Health.
Beximco, which will own 30% of the equity shares in the joint company, says that it expects that product from the new facility will reach the market by the end of 2017. According to the company, the joint venture is part of Malaysia’s Economic Transformation Program and “is intended to manufacture and supply differentiated medical products, such as inhalers.”
Beximco Managing Director Nazmul Hassan commented, “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. This kind of collaboration is also in line with our aspiration to continue to strengthen our global presence as a generic pharmaceutical company.”
In addition to producing its own MDIs, DPIs, inhalation solutions, and nasal sprays, Beximco also provides contract manufacturing services for OINDPs.
Read the Beximco press release.
