Malaysia Welcomes US Biotechnology Firms

MALAYSIA has the potential to house US biotechnology companies’ offshore

base to develop medicine.

Science, Technology and Innovation Minister Datuk Dr Jamaludin Mohd

Jarjis said Malaysia offers a reasonably lower operating cost for the

purpose.

He said the cost to develop medicinal drugs can run up to between

US$500 million (US$1 = RM3.80) and US$1 billion when it eventually

receives the US Food and Drug Administration’s (FDA) approval.

The FDA is a US authority which approves medicine fit for consumption.

“Pre-clinical trials like animal testing can be carried out here at

lower costs,” Jamaludin said in Kuala Lumpur after witnessing a twinning

agreement signing ceremony between TPM Academy and US-based California

State Polytechnics University (CalPoly) yesterday.

Jamaludin also said that Malaysia could be a platform for these

biotechnology companies to make and retail their medicine on a commercial

basis within the Asia-Pacific market.

“Malaysia has one of the largest reservoirs of biodiversity assets in

the world that has yet to be tapped.

“Through joint researches with CalPoly, new drugs can be developed and

benchmarked against Asian standards in Malaysia.

“After the animal testing and clinical trials, the drugs can then be

sent for FDA’s approval, and this should be a much affordable way of

making medicine,” he said.