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Strides to set up manufacturing unit in Malaysia

BS Reporter  |  Mumbai 

Strides Acrolab

Bangalore-based today signed an agreement to set-up biopharmaceuticals and manufacturing unit in a biotechnology park in Malaysia.

The financial details were yet to be disclosed.

The company's subsidiary Agila Specialties will set up a customised facility in biotech park, in Johor in Malaysia.

"Malaysia provides us with a strategic location to expand our manufacturing operations. The attractive financial incentives by the Malaysian government and presence of a pharma and biotech ecosystem are catalysts to our decision," said Adam Levitt, CEO-Americas of Strides.

The project will be built by Bio-XCell to the design requirements by Strides and leased out to the company on a long-term basis. The lease rentals are applicable from the date of commercialisation which supports the biotech strategy of Strides, where there is a long gestation period from development to commercialisation, the company said.

In addition to Strides, Indian biotech firm Biocon, Metabollic Explorer from France, and Glycos Biotechnologies of US are some of the other which will set up manufacturing units in the

First Published: Wed, June 29 2011. 12:10 IST