Pharmaniaga Delivers Strong Financial Performance

Pharmaniaga Bhd, during the third quarter, delivered positive returns and growth momentum with Profit After Taxation and Zakat (PAT) of RM50 million and Profit Before Taxation and Zakat (PBT) of RM98 million on the back of a revenue of RM2.1 billion.

Within the nine-month period, the Group has achieved PAT of RM87 million and PBT RM152 million while revenue stood at RM4.1 billion.

Speaking to the media after its Q3 Fund Analyst Briefing today, Pharmaniaga Group Managing Director Datuk Zulkarnain Md Eusope said various efforts have been put in place for the Group’s next key focuses which are insulin manufacturing, continuous COVID-19 vaccine fill and finish manufacturing, as well as Hepatitis-C treatment.

“Our focus goes beyond the COVID-19 vaccine in the coming quarters. We are in the midst of setting up an insulin manufacturing plant to meet the needs to treat non-communicable diseases (NCDs).

“This plan will complement the Group’s strong market presence in the cardiovascular and basic diabetic range. The manufacturing facility will be located at our EU certified high-tech plant, Pharmaniaga LifeScience Sdn Bhd (PLS) and will produce pre-filled insulin cartridges in the form of self-administered ‘Pens’, and expected to be ready in 2025,” he said.

Datuk Zulkarnain said with the proven capabilities and facilities, the Group has recently collaborated with Government’s Malaysia Healthcare Travel Council (MHTC) to explore two programmes, namely ‘Malaysia as Hepatitis-C Treatment Hub of Asia’ and ‘COVID-19 and other Vaccination Programmes for Healthcare Travellers’.

For the said two programmes, Datuk Zulkarnain explains that Pharmaniaga’s role is to provide the supply, logistics and distribution of Hepatitis C drugs Ravidasvir, COVID- 19 and other vaccines to the participating member hospitals of MHTC, access to Key Opinion Leaders (KOLs), provide support for the platform/system for the vaccination programme as well as marketing and promotion, amongst others.

“Amidst the continued resurgence of COVID-19 cases, we support the Government’s effort to drive the country into a hub for COVID-19 vaccine and other vaccines as well as treatment for diseases that will help to increase confidence in using vaccines amongst the rakyat.

“Our current Sinovac COVIOD-19 stocks are enough to cover Malaysia’s booster dose and vaccination for children as we have embarked into an ongoing private vaccination programme.

“And we will continue with Sinovac COVID-19 vaccine fill and finish manufacturing to meet domestic and international demands since we have the expertise, capabilities and facilities, as well as strong and full support from our technical partners from overseas,” said Datuk Zulkarnain, adding that Pharmaniaga’s production will continue to cater for the needs of other nations, especially in South East Asia countries and African nations.

Moving forward, Datuk Zulkarnain said the Group is optimistic to remain sustainable in its business growth for the next quarter of the financial ending 2021 and committed to enhancing its expertise in R&D activities to continue developing new pharmaceutical products amongst others.

“Our logistics and distribution business with the Ministry of Health (MOH) will continue and currently we are in negotiating with the Government to further extend it. The signs are good for us to remain MOH’s logistics and distribution partner beyond 2024,” he said.

Datuk Zulkarnain extended his gratitude and appreciation on behalf of the Group to the Prime Minister, YAB Dato’ Sri Ismail Sabri Yaakob, Minister of Health YB Khairy Jamaluddin and Minister of Science, Technology and Innovation (MOSTI) YB Dato’ Dr Adham Baba for the trust and confidence placed in Pharmaniaga to manufacture and export Sinovac fill and finish COVID-19 vaccine in Malaysia and soon to penetrate world’s market.

Pharmaniaga is the leading pharmaceutical Company of Boustead Holdings Berhad group of companies, and together with Lembaga Tabung Angkatan Tentera, are the major shareholders of the Company.

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