Alteogen Eyes ASEAN, OIC Biosimilar Markets Via Malaysian JV

Alteogen is taking a different strategy versus its bigger South Korean biosimilar rivals as it is aiming to enter the ASEAN and OIC biosimilar markets by establishing a joint venture with a state-owned Malaysian firm.

Alteogen Inc. has agreed to set up a joint venture with Malaysia's state-owned Inno Bio Ventures Sdn. Bhd. to enter the Association of Southeast Asian Nations (ASEAN) and Organization of Islamic Cooperation (OIC) biosimilar markets, estimated together to be worth KRW3tn ($2.82bn).

The South Korean biopharma, which is seeking to enter emerging and other global biosimilar markets, has opted for Malaysia because "Malaysia is regarded as the center of ASEAN and OIC countries and launching a product in this country can

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