Bangalore-based Strides Arcolab today signed an agreement to set-up biopharmaceuticals and sterile injectibles 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, Bio-XCell Ecosystem 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 companies which will set up manufacturing units in the Bio-XCell Ecosystem.
