Malladi Drugs & 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. Mr. Prashant Malladi, Managing Director, Malladi Drugs & 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 told reporters after the opening of BioMalaysia 2008. Biotech, one of the main organisers of BioMalaysia, is the lead agency for the biotechnology industry in Malaysia.