Pharmaniaga Bhd continues to strengthen its presence in the Indonesian market, whilst establishing the Group’s efforts to intensify its position as a major international biopharmaceutical player.
Pharmaniaga Group Managing Director Datuk Zulkarnain Md Eusope said the Indonesian Division has returned to the black with an increase of the Group’s bottomline through an effective reorganisation of operational strategies in place.
“Indonesian operation has successfully achieved a swift turnaround in the first quarter of the financial year 2022 (Q1 FY2022) and this result has reflected the effectiveness of the reorganisation of its enhanced operational efficiency through an ongoing stock optimisation exercise, as well as aggressive payment collection.
“Our business footprint in Indonesia has huge untapped potential to explore. We are in the midst of revamping the current business model of our public listed logistics and distribution arm, PT. Millennium Pharmacon International Tbk located in Jakarta and increasing the products portfolio of our manufacturing arm, PT Errita Pharma in Bandung.
“With strategic business and aggressive marketing plans in place, we aim to further enhance the profitability for the overall Indonesian division in the coming quarters,” he said during the Q1 FY2022 financial performance held today.
Datuk Zulkarnain said the Group is in the phase of an aggressive discussion with few countries around the world and eyes to expand to the United Kingdom, Turkey and Middle & North Africa (MENA) market.
“Our journey construction of being the world’s first Halal vaccine and insulin facilities progressing on track for commercialisation by 2025 and leveraging on our proven track record in handling and distributing vaccines, we are committed to bringing our experience and expertise to other developing countries. This would enhance and expedite these countries’ vaccination programmes,” he said.
Recently, the Group has sealed two Memorandum of Understandings (MoUs) through the collaboration with PRIME Healthcare Group (PRIME) to establishing the Group’s market presence in MENA countries, Thailand’s leading clinical research organisation Bio-Innova Co Ltd and Bionet-Asia Co Ltd to strengthen the Group’s vaccine business and provide with another income stream in the future.
Datuk Zukarnain said as the world has begun transitioning into the endemic phase amid its high vaccination rates, all economic sectors in Malaysia have now returned to their existing business operation back to pre-COVID-19 pandemic normalcy.
“We are also focusing on intensifying our manufacturing of generic pharmaceutical and consumer healthcare product portfolio in the next financial performance to elevate business sustainability.
“With a gradual shift to our existing operation and adapted to the current of changes, we continue on growing our manufacturing of generic pharmaceutical, biopharma and consumer healthcare products. “This is part of the company strategy to boost and focus on our manufacturing range of niche product such as insulin, vaccines, over-the-counter and supplement portfolio products such as Citrex Vitamin C – flagship product with new formats as well as to launch vitality and gastro healthcare categories,” he said.