Biocon to invest $161 mn in Malaysia

Bangalore-based Biocon will set up a bio-pharmaceutical manufacturing and research and development facility in Bio-XCell, a custom-built biotechnology park and ecosystem in Iskandar Malaysia, Johor. The company will invest $161 million (Malaysian Ringgit 500) in the first phase, the largest for the Malaysian healthcare biotechnology sector so far, a company statement said. The new facility will become operational by 2014. The project will also focus on research and development and production of other bio-pharmaceutical products at a later phase.