Medicine Approval Period Shortened To Just Two Months

BMI View: Malaysia's pharmaceutical market is a moderate but improving prospect for multinational drugmakers. Supported by an expanding economy and relative political stability, combined sales of prescription drugs and over-the-counter (OTC) medicines are forecast to increase from MYR4.29bn (US$1.22bn) in 2009 to MYR4.57bn (US$1.40bn) in 2010. Due to the strengthening ringgit, this equates to growth of 6.4% in local currency terms and 15.2% in US dollar terms. Moreover, medicine regulations are improving and the government is encouraging healthcare investment.

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