Company IntroductionBioCare is a visionary and fast-growing Malaysian based pharmaceutical company incepted in the year 2005 with a diverse combination of skills, vast experience and resources. BioCare’s initial core activity was in the marketing and distribution of quality pharmaceutical formulations, consumer healthcare products, medical disposables and active pharmaceutical ingredients (API).
Biocare has always played a pioneer role in respiratory segment and established a successful track record in marketing MDI products in both private sector and Malaysian Ministry of Health (MOH) hospitals for more than a decade.
Mr. Saravanan, the Managing Director which vast years of experience in the industry of Biocare who was instrumental in taking the organisation up the value chain by expanding the operation into manufacturing. Hence, Biocare ventured into an upstream project and forayed into first of its kind, State of the art Metered Dose Inhaler (MDI) manufacturing plant in Malaysia. BioCare has always aspired to play a pioneering role in adopting modern and innovative technologies in Pharmaceutical Manufacturing.
Corporate CultureBiocare believe and possess the ONE TEAM ONE VISION culture, hence moving the company from good to great. Though the group of companies are diversified and each department work on various portfolio, the team always exhibit togetherness and inclusion with one common goal and objective.
This has been the key for transforming a marketing and distribution company to the 1st Metered Dose Inhaler manufacturer in Malaysia within a short span of 15 years in the industry.
In its early years, Biocare have shown persistent development and created the difference in the respiratory segment in Malaysia market. Introducing the 1st CFC free inhalers in Malaysia for Budesonide, followed by it’s extensive promotional and expansion in respiratory segment which has led for the successful establishment of the technology driven Metered Dose Inhalers to be introduced in Malaysia which caters for both domestic and international market.
One team One Vision.
Growth InitiativesBiocare being a visionary company, the strategy has always been introducing new innovation in its field of expertise and to bring upon changes in the medical industry by being a local industry player. The management looks out for all avenues and invest on R&D continuously to focus on niche products that assures affordability of medicine to all.
On that note, Biocare works on joint venture partnerships to create the value and support it’s team. This was initiated in 2013, Biocare acquired Pharmasafe Laboratories, contact lens manufacturing facility. This acquisition was the very initial step of Biocare to move ahead in the manufacturing field. Subsequently, in 2015, with its years of experience in respiratory segment, the management confidently ventured into Metered Dose Inhaler facility.
Besides being a beginner for the MDI manufacturing, the market has also been rather very competitive in both domestic and international market. The competitive market scenario has certainly been a challenging factor in addition to the ever fluctuating FOREX rate. During the initial phase, when Biocare embarked on this project, the forex was much stable which then the USD was strengthening against MYR which incurred high operational and material cost that lead to increase cost of goods. Nonetheless, with advance planning and support from government agency, the financial constraint was managed.
Achievements and ImpactThe establishment of Biocare’s Metered Dose Inhaler facility have changed the landscape of inhalers in Malaysia from being 100% dependent on import product to locally made product. Local production has given the edge to reduce the cost of medicine significantly, hence providing affordable medicine without compromising on the quality which has positively contributed to the gross national income (GNI). The establishment of Biocare manufacturing has offered more than 90 new job opportunity comprising, skilled and semi skilled professional.
Biocare is further expanding its manufacturing line and working on the Phase II and it will be new state of the art facility which is expected to be completed by Quarter 2 2021. This plant will meet International GMP standards and accreditation with 100% automated manufacturing line to have least human intervention and labour intensive to ensure improved productivity and efficiency.
This will give Biocare an edge to penetrate through regional and international markets.
Hence Biocare has recorded a quantum leap growth with CAGR of 14.8% and especially in the last 3 consecutive years, the company have recorded 25% growth in the revenue.
Future DirectionAfter a successful Phase I manufacturing facility, Biocare has outlined a very strategic road map to be a market leader especially in respiratory segment which is a critical care illness. In short, Biocare aims to be one stop centre when speaking about respiratory ailment which has further made Biocare expand it’s wings by setting up another world class manufacturing facility for Dry Powder Inhalers, Nasal Spray and Nebuliser.
Biocare is also working on some innovative patient empowerment programs where the patient and the healthcare provider can be updated with their treatment plans and outcomes digitally. The products are expected to be launched by the 3rd quarter of 2021.