Biotech sector draws foreign interest

The Star Several international companies have shown interest in Malaysia’s biotechnology sector.
These companies – from the United States, Europe, South Korea and Taiwan – are keen to share their technology, do research and development (R&D) as well as manufacture in Malaysia.
One of these firms, Burrill & Company, a life sciences merchant bank, has singled out Malaysia as one of the countries, besides China and India, that offers good prospects for biotechnology initiatives, including in health care.
These companies took part in the just-concluded Bio Chicago 2006 international biotechnology convention, which was attended by Science, Technology and Innovation Minister Datuk Seri Dr Jamaludin Jarjis and a 150-member Malaysian delegation.
The event, which ended yesterday, was the world’s largest gathering of biotechnology industry players, with 20,000 participants and 1,600 exhibitors.
It was organised by the Biotechnology International Organisation.
“The feeling is that, because of the high cost of producing drugs, the big pharmaceutical companies have no choice but to outsource their research, clinical trials, production and even distribution,” said Dr Jamaludin.
Malaysia would compete with other countries through its strengths in human capital, good infrastructure and intellectual property (IP) protection, he told reporters after opening a Malaysia Pavilion at the McCormick Place Convention Centre here on Monday.
Dr Jamaludin said Prime Minister Datuk Seri Abdullah Ahmad Badawi wanted the IP laws to be looked into and his ministry was now working with the Domestic Trade and Consumer Affairs Ministry to see how this could be further strengthened.