Novartis AG (NVS) Considers Investment in Malaysia
11/5/2012 7:54:20 AM
Malaysia is currently in consideration by Novartis, the world's second largest pharmaceutical company, as a potential site for a healthcare biotechnology investment. In a statement today, Malaysian Biotechnology Corp (Biotech) said Novartis has continued to highlight its partnership with the Sarawak Biodiversity Centre to develop drug compound leads from microbial natural products. "As a further boost to the local healthcare bioeconomy scene, Novartis has broadened the range of their support from drug discovery projects to even potential funding for biomedical companies via their Novartis Venture Funds," it said. Biotech chief executive officer Datuk Dr Mohd Nazlee Kamal was quoted in the statement as saying the harmony of strategies, innovations and technologies would be a timely impetus in structuring potential growth, with bioeconomy being discussed in the BioMalaysia 2012 Conference and Exhibition.