Duopharma has already invested $2.2 million (RM7 million) to establish Malaysia's first National Pharmaceutical Control Bureau-certified GMP Biological Fill & Finish facility. It will invest an additional $2.8 million (RM9 million) for a pre-filled syringe suite should phase III trials prove successful.

Similarly, US-based Electrocore, a developer of innovative technologies in healthcare, has decided to establish a research and development facility in Malaysia for conducting clinical evaluation of its products. The company has entered into a collaboration with Malaysian sterile synthetic bone grafts manufacturer Granulab."These partnerships magnify the value proposition that Malaysia offers and are attractive, especially in nurturing and driving global entrepreneurship and partnerships with foreign companies," says Dr Mohd Nazlee Kamal, CEO of BiotechCorp. "Together with the ministry and our new partners, we will work towards building the collaborative strengths to drive this industry forward."

Good infrastructure and connectivity with other neighbouring countries, cheaper costs of doing business and better facilities and support from the government are making Malaysia an attractive destination for investments.

"Malaysian biotechnology industry has progressed from capacity building to global business over the past five years. The conducive business environment in the country, along with political stability, will give higher returns to multinational companies operating in Malaysia," points out Dr Prashanth Bagali, CEO and founder of Geneflux. "The country has positioned itself in the ASEAN region with the best infrastructure and stream-lined policies (grants, funding, green lane facilities, fast-track approvals and product registration) for both local and international companies."

He adds that he expects a sustainable growth and about 30-35 percent returns on investment in healthcare and molecular diagnostics industries.