Ekuiti Nasional Berhad announced the acquisition of an 80% stake in Symbiotica Speciality Ingredients Sdn Bhd (Symbiotica), a homegrown Active Pharmaceutical Ingredient who has presence in more than 70 other countries.
The company is based in Seberang Perai with manufacturing facilities in Kulim, Kedah, Symbiotica and specialises in manufacturing corticosteroid and steroid hormone APIs, distinguishing itself as one of the few API manufacturers in SEA with expertise in this niche. Since its establishment in 2001, the company has consistently expanded its product range and grown its capabilities, possessing today a portfolio of over 70 API products.
Dato’ Syed Yasir Arafat, Chief Executive Officer (CEO) of Ekuinas, said, “The pharmaceutical industry is a significant economic contributor with remarkable growth potential. APIs have been identified as a key growth segment for the pharmaceutical sector in the New Industrial Masterplan (NIMP) 2030. The market for corticosteroids, steroid hormones and non-steroidal APIs stood at USD36 billion in 2023 and is projected to grow at a compounded annual growth rate of 6.7% by 2027. Having made progressive and consistent growth over the past two decades, and being a well-regulated and certified API supplier, Symbiotica as one of the largest API manufacturers in SEA is well-positioned to take advantage of the macro trends driving this sector’s future growth. There are clear strategies in place and we look forward to taking the company to its next level of growth and contribute to the broader advancement of Malaysia’s pharmaceutical sector as the leading API company in SEA.”
This marks Ekuinas’ third investment in the pharmaceutical sector. Its current portfolio includes Medispec (M) Sdn Bhd, a local pharmaceutical and supplement product distributor which markets more than 100 pharmaceutical drugs and 30 health supplements under both prescription and over the counter (OTC) categories, and Eagle Cliffe Sdn Bhd which owns a chain of 28 Kaisar Farmasi outlets, predominantly centered in the Klang Valley.
