Government program supports new generics factory in Malaysia

Beximco Pharmaceuticals (AIM: BXP) has entered into a collaboration with Malaysia’s BioCare Manufacturing, in what will be the Bangladeshi generics firm’s first overseas manufacturing deal.

The joint venture is intended to manufacture and supply differentiated medical products, such as inhalers, under the Malaysian government’s Economic Transformation Program.

The Malaysian government’s initiatives are aimed at increasing investment in the country’s pharmaceutical industry to provide dedicated drug manufacturing facilities, improve generic drug capabilities, and promote local production to qualify for government procurement.