From Bernama
Choose Malaysia For Clinical Trials, Says Dr Jamaludin
From Muin Abdul Majid
CHICAGO, April 10 (Bernama) -- The Bio Chicago 2006 international convention of the biotechnology industry opened here Sunday, with Science, Technology and Innovation Minister Datuk Seri Dr Jamaludin Jarjis promoting Malaysia as a biotechnology destination, particularly as a place to conduct clinical trials for new drugs being developed by global pharmaceutical companies.
He also disclosed that a new act was being formulated to allow local scientists to benefit financially when their research findings were turned into marketable products via partnership with venture capitalists.
Making his case in front of an international audience at the McCormick Place Convention Centre here, he said companies were aware that clinical trials to check on the efficacy of a drug was a costly affair as it could take up as much as 60 per cent of the total cost of development that could go as high as US$1 billion.
"To bring down the cost of clinical trials, we feel that Malaysia is a suitable destination due to its multi-racial community, unlike some countries which have a homogenous population.
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