Duopharma Biotech Berhad announces that it has received consent from the Ministry of Health to supply insugen-insulin recombinant human formulations for diabetic patients is a deal that is estimated to be worth RM375 million.
It adds that the Government had accepted its tender offer for the supply and gotten approval via direct negotiation with the procurement department and is subject to the terms and conditions set out in the Letter of Award.
- Under the agreement between MOH and Duopharma subsidiary, the duration of the supply will be for a period of three years commencing on December 2021 until December 2024 with a total contract value of RM375,174,320.00. The subsidiary will is also required to deliver to the Government an irrevocable performance bond for the sum of RM6 million within 30 days from the date of acknowledgment of receipt of the LOA.
However, the Government has set out certain impositions if the company fails to meet the obligation and has the right to terminate or penalise in accordance with the terms. Among the grounds on which is entitled to terminate include the failure to deliver to the Government the irrevocable performance bond within the prescribed time, failure to supply the Products within the prescribed time, failure to comply with any term in the tender document, failure to comply with the prescribed supply specifications; and termination due to public interest or security and national interest.
Additionally, the group is required to undertake the Professional Training And Education For Growing Entrepreneurs (PROTÉGÉ) programme as per the Government’s requirement, without any additional cost.
With the contact, Duopharma will be able to supply the human insulin formulation to all Ministry of Health’s hospitals, district health offices and health clinics. With an estimated 3.9 million diabetics in Malaysia, of which about 420,000 patients are treated using human insulin in Government hospitals and clinics.
