Duopharma Biotech Bhd hosted the Third (3rd) Halal Pharmaceuticals Symposium 2022 on 15th June 2022, as part of The Company’s continuing quest to spearhead efforts to capture the global halal pharmaceuticals market by facilitating the sharing of best practices, achievements, and international collaborations to resolve challenges, advance global standards and jointly shape the industry.
Themed The Emergence of Global Best Practices for Halal Pharmaceuticals this year, the international symposium that has been organised by Duopharma Biotech since 2016 aims to reinforce the true meaning of halal pharmaceuticals as the Company works to ensure that the industry supply chains follow rigorous international halal standards to produce high-quality products at every stage of the value chain. In addition, the symposium gathers international experts, industry leaders and standards and regulatory agencies, including the Organization of Islamic Cooperation (“OIC“)’s Standards and Metrology Institute for Islamic Countries (“SMIIC“) to advance halal pharma’s integration into the global healthcare system.
“Duopharma Biotech has strived to establish strategic collaborations to meet the demands of the Malaysian, ASEAN and global markets. We will continue to take the necessary measures to grow the halal pharmaceutical industry in Malaysia and around the world and remain committed to our aspiration to produce safe, effective, quality and halal products for all consumers,” said Tan Sri Datin Paduka Siti Sa’diah Binti Sh Bakir, Chairman of Duopharma Biotech Bhd.
According to the State of Global Islamic Economy 2022 Report¹, the halal pharmaceutical market which is based on Muslim’s spend on pharmaceuticals, increased by 6.5% in 2021, from USD93.5 billion to USD100 billion, and is expected to grow by a further 6.7% in 2022 to USD106 billion and reach USD129 billion in 2025 at a 4-year CAGR of 6.7%. Additionally, there is growing acceptance of the halal pharma industry within the mainstream pharmaceuticals industry which has driven further revenue growth in this sector.
