Johor has emerged as a prime location to become Asia’s largest insulin hub, with Indian biotech major Biocon’s RM1.1 billion (approximately US$274 million) investment to establish a manufacturing facility in the state.
Biocon, one of India’s largest biotechnology company, announced plans to invest in a new facility in Johor, which will produce insulin and other biotechnology products. The investment is expected to create over 1,000 high-skilled jobs during the construction phase and around 500 permanent positions after the facility is operational.
The new facility, expected to be operational by 2025, will be built on a 20-acre site in Johor’s Nusajaya region. It will feature cutting-edge production technology, including advanced fermentation facilities and isolators, to produce insulin and other essential biotechnology products. The facility will be designed to meet global regulatory standards and produce high-quality products.
Biocon’s investment in Johor is a significant boost to the state’s biotechnology sector, which has been growing rapidly in recent years. The company has chosen Johor for its strategic location, business-friendly environment, and easy access to the Southern Corridor’s BioXploit, a biotech park and an eco-system of biotech companies, research institutions, and academic centers.
The investment is expected to contribute to the development of Johor’s biotechnology industry, which has seen significant growth in recent years, driven by the state government’s efforts to promote the sector. The state has set a target to make Biotechnology a vital contributor to the state’s economy by 2025, with a projected growth rate of 10% per annum.
The investment will also provide a significant boost to the local economy, generating additional revenue and creating new job opportunities. The facility will also contribute to the state’s human capital development by providing training and skills development programs to locals, enabling them to participate in the growing biotechnology industry.
In conclusion, Johor’s emergence as Asia’s largest insulin hub will be a significant milestone in the region’s biotechnology industry. With Biocon’s RM1.1 billion investment, the state is poised to become the production hub for insulin and other biotechnology products, creating a vast array of job opportunities and contributing to the state’s economic growth. The investment is set to further solidify Johor’s position as a key player in the global biotechnology landscape.