India's Strides Arcolab in deal with Bio-XCell to manufacture in Malaysia
Indian drugmaker Strides Arcolab yesterday said that its subsidiary, Agila Specialties (Malaysia) has signed an agreement with local firm Bio-XCell Sdn Bhd to set-up biopharmaceuticals and sterile injectables manufacturing unit in a biotechnology park in Malaysia, according to several Indian press reports. The financial terms of the accord were yet to be disclosed.
Speaking separately at the currently running BIO 2011 Convention in Washington DC, USA, Bio-XCell chief executive Raja Ridzwa Raja Abdul Aziz, which was launched last year as the commercial arm of the government agency Malaysian Biotechnology Corp, would build manufacturing facilities for clients at its biotechnology park in Johor and lease them back over 10 to 15 years, and would begin seeing revenue in 2013.
Attractive financial incentives
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