Malladi drugs and pharmaceuticals to set up global hub in Malaysia
Kuala Lumpur, Oct 9 (ANI/Business Wire India): Malladi Drugs and Pharmaceuticals Ltd plans to make substantial investment over the next 3-5 years to set up its global "one-stop shop" in Malaysia.
Malladi Drugs handed over a business plan to Malaysian Biotechnology Corp (Biotech), on the first day of the BioMalaysia 2008 conference and exhibition in the presence of the Malaysian Prime Minister Datuk Seri Abdullah Ahmad Badawi.
According to the plan, the firm aims to expand into other areas of service offering as a contract research organisation in Malaysia including oncology and steroids, and beta-lactums.
Prashant Malladi, Managing Director, Malladi Drugs and Pharmaceuticals Ltd said, "We have been studying this model for some time and are convinced that Malladi is positioned perfectly to deliver this."
BioTech's chief executive officer, Datuk Iskandar Mizal Mahmood, said the firm has yet to pick a site, but would be encouraged to locate at one of the economic corridors in the country, in line with Prime Minister Datuk Seri Abdullah Ahmad Badawi's call for those areas to be driven by biotechnology.
"The investment entails the development of the entire value chain within the contract manufacturing facility starting from the API formulation," he said.
Biotech, one of the main organisers of BioMalaysia, is the lead agency for the biotechnology industry in Malaysia.
Malladi Drugs and Pharmaceutical Ltd is an API manufacturer based out of Chennai, India. The Company has a strong footing and experience in Research and Development and manufacturing of API with a deep rooted experience of more than 50 years. The company intends to expand its service base in the value chain providing the concept of "One-Stop-Shop".
As part of the expansion plan, Malladi intends to establish a Malaysian entity. This entity will serve as a foot-print for the company in the next few stages of the value chain like Formulation R andD, Manufacturing, and Formulation Clinicals. The company also intends to extend its expertise in Oncology and Steroids and in Beta-lactums. (ANI)
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