Set up a Pharmaceutical Company in Malaysia
Updated on Monday 21st November 2016
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The pharmaceutical industry represents one of the top domains chosen by businessmen at an international level. Malaysia has also invested in the pharmaceutical industry and the results can be easily seen, as in the last years more and more businessmen are interested in a pharmaceutical business in this country. However, the registration of a pharmaceutical company requires a special treatment and it is necessary to study all the regulations provided by various agencies in order to register this type of business here and our team of specialists in company incorporation in Malaysia can provide legal assistance on the business permits compulsory for this domain, as well as the minimum requirements referring to the equipment and products allowed here.
Pharmaceutical industry in Malaysia
Before incorporating a company in Malaysia as a pharmaceutical business, investors must receive approval for the products they will provide on the local market, issued by the Drug Control Authority, which was established in 1986.
According to the Malaysian legislation, pharmaceutical products can refer to:
• prescription medicine;
• over the counter medicine;
• herbal supplements;
• health supplements;
• traditional medicine.
Companies registered in Malaysia in this field can be either manufacturers or sellers of medical products and it is important to know that the industry benefits from a solid regulatory framework, on which our team of company formation agents in Malaysia may provide in-depth details.
Regulatory framework for the Malaysian pharmaceutics
Companies operating on the Malaysian pharmaceutics industry are regulated by the National Pharmaceutical Control Bureau, which is the main authority responsible for the efficacy and safety of the products sold and manufactured on the local market, including cosmetic products.
Furthermore, the institution has become a member-state of the Pharmaceutical Inspection Cooperation Scheme (PICs) starting with 2012 and since its membership, Malaysia registered a new boost referring to investments in the field, as the PICs is represented by well-known international pharmaceutical authorities.
Businessmen who are interested to receive more details on the pharmaceutical industry in Malaysia are invited to contact our team of company formation consultants, who can offer their expertise for the registration of a business in this field.