Malaysia's pharmaceutical industry is expected to fulfill sales of US$1.1 billion in 2009, some 10 percent higher than 2008, due to the rising demand for medication amid the A/H1N1 flu pandemic, local media reported Tuesday.
The local pharmaceutical industry was less affected by the economic downturn than other industries, said Jimmy Piong, president of the Malaysian Organization of Pharmaceutical Industries (MOPI), according to The Star.
The sales of immune boosters were growing due to the expansion of A/H1N1 pandemic in the country, but over-the-counter sales of other products like vitamins and non-prescriptive medicines were dropping, said Piong.
Yet, Piong said that the sales of prescription medicines remain steady.
Piong said that sales of the generic pharmaceuticals, which accounted for 35 percent of the local market, were expected to grow 15 percent this year and the next as more people switch to them to save cost.
The sales growth of the sector would also be boosted by exports to 15 percent to 30 percent in three years as local generic pharmaceutical manufacturers were expanding overseas, he noted.
Malaysia's pharmaceutical manufacturing standards and technology had been well matching the requirements of the European Pharmaceutical Inspection Convention Code, The Star said, noting it facilitated the country's exports of generic medicines.
At present, generic medicine producers export to 43 countries with a focus on the southeast Asian region, the daily said.
However, the generic manufactures also encounter a number of challenges including severer competition and stricter regulation, said Leonard Ariff Shatar, first vice-president of MOPI.
Leonard noted that it took at least US$142,857 for a generic product to get approval to market and about three to four years before it could been seen on market.
(Xinhua News Agency August 25, 2009)