PETALING JAYA: The Healthcare National Key Economic Area (NKEA) will aim to realise seven critical targets set for this year, including the implementation of an Off-take Agreement Incentive of Medical Devices by mid-2014.

Under Malaysian pharmaceuticals (Entry Point Project 3 ( EPP3)), Hovid Berhad aims to start construction of a new plant in early 2014 to expand its tablet and capsule production capacity, allowing it to target development and production of new off-patent drugs for supply to the Health Ministry and its export markets.

This comes as Malaysia is taking major steps to enhance its generic drug manufacturing capacity to capitalise on the impending patent expiry of major drugs, which will bring an estimated value of US$132bil (RM425.6bil) for the industry. According to the 2013 Economic Transformation Programme (ETP) Annual Report, Indian company Biocon Ltd is expected to commence commercial operations of its biopharmaceutical manufacturing facility this year and will also focus on developing the ecosystem to support its operations and nurture human capital by partnering with academia.

Another critical target is the establishment of a new plant by local medical device manufacturer Vigilenz Medical Devices Sdn Bhd, with construction commencing by July and estimated to be completed in the first quarter of next year. The report said it bought about 70,000 sq ft of factory space for RM2.4mil for its new plant at Science Park Penang and spent RM300,000 upgrading its existing plant last year.

Source:The Star