This EPP seeks to capitalise on the impending expiry of patents on major drugs to increase Malaysia’s generic drug manufacturing capacity. In order for the country to reap the benefits from this market, estimated to be worth US$132 billion, the Malaysian industry must take the following measures:
- Leverage the country’s membership in The Organisation of the Islamic Cooperation and the Pharmaceutical Inspection Convention and Pharmaceutical Inspection Cooperation Scheme to create an export platform
- Drive efforts to localise and upgrade local manufacturing plants
- Develop strong ties between multinational corporations and local manufacturers
- Income generated from pharmaceutical exports grew 9% in 2014, surpassing the 5% growth target.
- The partnering of foreign companies with local players has contributed to positive developments in the transfer of MNCs' manufacturing operations to Malaysia. To date, 11 projects have been accorded EPP status.
- In 2014, AFT Pharmaceuticals, a privately-owned company with operations in Australia and New Zealand, agreed to partner a local manufacturer to produce orphan drugs in Malaysia.