CCM launches new RM10 Million pharmaceuticals R&D centre

Chemical Company of Malaysia Berhad (CCM) today launched Innovax Sdn Bhd, the Group’s RM10 million hi-tech research and development (R&D) centre here to facilitate the manufacturing of new and innovative pharmaceutical products.

CCM Berhad chairman, Tan Sri Ab. Rahman Omar officiate the launch of the 63,000 sq ft facility, which is the largest in Malaysia in terms of built-up and houses four main departments and managing three new product pipelines.

Innovax has targeted almost 35 new generics products in its product pipeline until 2015 and they are currently in various stages of research and development and approval processes. The R&D centre is well equipped with analytical, formulation and quality laboratories, and CCM plans to purchase up to RM2 million worth of more advanced pharmaceutical and analytical equipment within the next year.

CCM Bhd Group Managing Director, Dato’ Dr Mohd Hashim Tajudin said the new R&D centre had almost doubled the Group’s new product development capacity and had a very strong track record with up to 90 per cent success rate in terms of product approval.

“Innovax now has an annual capacity of 24 new products’ slots; double that of our previous capacity of between 10 and 15 products’ slot in 2005.

“R&D is the backbone of the pharmaceutical industry and the Group’s investment in this facility recognises the significance of cutting edge capability to progress and stay ahead of the competition in this fast growing sector,” he added.

Dato’ Dr Mohd Hashim said Malaysia’s pharmaceutical industry had a high growth potential compared to other developed countries in the region and the local pharmaceutical market was expected to grow to RM4.2 billion this year and was poised to expand at an annual rate of 10 per cent.

“The future of the local pharmaceutical sector looks positive as the changing demographics, expectations for better healthcare and prevalence of diseases among Malaysians continue to grow and contribute towards boosting the demand for pharmaceuticals products, especially prescriptive medicines,” he said.

Dato’ Dr Mohd Hashim also added that the current economic downturn would increase the demand for generic medicines which were much more affordable than branded ones.

“CCM currently commands 21 per cent of the local generic drugs market which is worth RM1.1 billion. We believe that the launch of the new R&D centre will significantly elevate our efforts in augmenting breakthrough technological advancements to develop innovative generic products. Furthermore, the Government is also giving its full support to generic drugs as it plans to reduce rising healthcare costs during these hard times,” said Dato’ Dr Mohd Hashim.

CCM Pharmaceuticals Division Director, Leonard Ariff bin Abdul Shatar said the R&D facility boasted a team of 30, 20 of which were scientists with specialist skills in various pharmaceutical disciplines such as pharmaceutical technology, chemistry, clinical pharmacology, microbiology and biotechnology.

“These professionals are well trained to conduct R&D activities which involve basic pharmaceutical technologies and analysis for all oral dosage forms and the highly specific niche technologies that include soft gel capsule technology and slow-release and modified release products.

“Slow-release products are distinctive as they enable people to take a single or double dose of medication daily and help to achieve therapeutic level of drugs in the blood for longer hours.

It provides a solution for those who need to take their medications several times daily. We are proud to be the only local pharmaceutical company in Malaysia that has embarked on this technology and confident that with our strengthened R&D capabilities, we will meet and exceed consumers’ expectations,” said Leonard who is also CCM Duopharma Biotech Berhad’s Chief Executive Officer.

Besides that, CCM is also a main player in the lucrative Halal and herbal pharmaceutical markets. The launch of the new R&D centre will intensify CCM’s efforts to drive their ambitions in these areas.

CCM, Malaysia's largest generic pharmaceutical manufacturer, is listed on the main board of Bursa Malaysia and is a key player in the fertilisers, chemicals and pharmaceuticals industries.