Regulatory Services in Singapore
Malaysia’s pharmaceutical market is one of the fastest growing in Asia Pacific. The country’s pharmaceutical industry is strong, providing mostly basic generics. The market is, however, dependent on imports for the supply of expensive patented and newer generation medicines.
The pharmaceutical market is rapidly expanding at a compound annual growth rate of over 9.5%.
In 2016, the Malaysia Pharmaceutical market stood at $2 billion with imports accounting for over 65%. The imports are helped by reasonable, predictable and pragmatic approach of the regulatory authority. With Malaysia being a part of ASEAN Mutual Recognition Arrangement, repeated audits have only reduced thus paving way for speedy clearances.