BANGALORE: Biocon Ltd, India's largest biotechnology firm, plans to invest an additional US$100 million (RMRM335 million) in its bio-pharmaceutical manufacturing and research facility located in Bio-XCell in Johor.
Its chief operating officer Dr Arun Chandavarkar said the company will plough in some US$100 million in the second phase of the facility, should there be greater demand for its product - insulin for diabetic patients.
The company has invested some US$200 million in the first phase of its facility at Bio-XCell, a custom-built biotechnology park and ecosystem for industrial and healthcare in Iskandar Malaysia, Johor.
Arun said that the first phase of the facility, which was designed to expand based on demand, will be operational by this year.
"As demand increases, it can trigger phase two and phase three. In the next phase of investment, it may be around US$100 plus," he told Malaysian reporters on the sidelines of a Seminar on Business Opportunities with Malaysia on Monday.
The seminar was held in conjunction with the ongoing trade and investment mission to Bangalore and Chennai, led by International Trade and Industry Minister Datuk Seri Mustapa Mohammed.
Arun said Biocon is developing Malaysian skilled talents by sending them to Bangalore for training. So far, 250 Malaysians have undergone the training.
Another branded and generic pharmaceutical products maker Stelis Biopharma Pvt Ltd is considering spending more in Malaysia after some RM110 has been earmarked for its facility at Bio-XCell.
Stelis chief executive officer Dr Anand Iyer said the first phase of the facility is currently at the design stage and is expected to be ready by early next year.
"Depending on how the business goes, we may invest between US$50 million and US$75 million in the second phase, which may start by the end of 2015," he said, adding that the third phase of expansion is possible.
Anand also expressed his concerns about the sustainability of talent supply in bio-pharma sector as the trained talents may be lured to work elsewhere where the pay package is better.
He proposed for the setting up of a government-private sector university for industrial skill training in bio-tech.
Earlier, Anand had raised the talent pool issue during the dialogue with the minister at the seminar.
Close to 100 people from Bangalore's business community attended the seminar, which saw a dialogue with Mustapa, accompanied by senior officials from Malaysian Investment and Development Authority, Malaysia External Trade Development Corp and Multimedia Development Corp. By Hamisah Hamid
Read more: Biocon to boost investment in Johor facility http://www.btimes.com.my/Current_News/BTIMES/articles/bioco30/Article/#ixzz2sJxJJGDz
