Otsuka Pharmaceutical Co., Ltd. (Otsuka) announces the establishment of a new subsidiary, Otsuka Pharmaceutical (Malaysia), to sell internally originated pharmaceutical products in Malaysia.
Otsuka prescription medicines have been sold through distributors in Malaysia. As Otsuka advances toward the introduction of innovative new pharmaceutical products in Malaysia, a local subsidiary has been established. The subsidiary will oversee the ongoing business with distributors, as well as engage in direct sales and co-promotional activities. Otsuka thereby aims to contribute to the vigorous provision of locally rooted medical care as well as to the availability of value-added Otsuka medicines.
The ASEAN grouping (10-member group includes Singapore, Thailand, Indonesia, Vietnam, Philippines, Malaysia, Myanmar) represents a growing market for pharmaceuticals, as rising income levels support the evolution of healthcare delivery systems and improved patient access. Another factor in the expected continued growth of pharmaceutical markets across the ASEAN countries is the rising incidence of lifestyle-related diseases.
Malaysia ranks 12th from among 190 economies in the World Bank Group's Doing Business 2020 Report, which assesses regulatory areas such as the ease of opening a business and accessing finance.
Malaysia also benefits from its relative political and economic stability, locational centrality in the ASEAN grouping, and ethnic diversity. Significant growth in the healthcare field is projected for the country.
Otsuka Pharmaceutical (Malaysia) President Hiroaki Tanaka commented, "Otsuka continues to take on the challenge of developing innovative products based on original ideas and technologies in order to contribute to the health of people around the world. Malaysia is quite integrated with other ASEAN countries as a distinct economic area. Together with our organization established in Singapore in 2017, we aim to contribute further in the ASEAN countries by proposing new treatment methods that have been developed and introduced in other regions."
Otsuka Pharmaceuticals (Malaysia) Sdn. Bhd.
February 24, 2020
4,000,000 Malaysian ringgit
Petaling Jaya, Selangor, Malaysia
Information in this news release was current as of the original release date.
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