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Myanmar allows private pharma firms

Date: 14/03/2013
Source: Investvine
Myanmar allows private pharma firms

Two local and four foreign investments were approved by the commission in accordance with the Myanmar Citizen Investment Law and the new foreign investment law, local media reported.

The investment commission has also allowed a joint venture between a local company and a Vietnamese firm, Stada-Venture Joint Venture Ltd, to set up a drug factory in Yangon.

In previous meetings, the commission has also granted licenses to businesses which are seen as “beneficial to the public” like fishing, cosmetics and garments and has also allowed cigarettes, beer and alcoholic beverages manufacturing.

The two domestic pharma investments were KK Fishing Net Factory and Sagaing June Pharmaceutical & Foodstuff Industry Ltd, producing algae-related drugs and food, household medicines, alternative medicines, cosmetic, fertilisers and fishing nets while the four foreign investments mainly involved in packaging.

So far, nearly all the country’s pharmaceutical supplies of drugs were produced by the Myanmar Pharmaceutical Factory, the only state-owned pharmaceutical plant in the country under the Ministry of Industry.

A study by the World Health Organisation has found that around 60 small-scale private drug manufacturers were known to exist in Myanmar, but none of them had been issued with a license from the Ministry of Health to manufacture drugs.

Some of the drugs currently sold in Myanmar are of unknown quality, efficacy or safety and are also imported or smuggled into the country through unauthorised channels, the WHO said.

Topic: FDI in Myanmar
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