BUSINESS

DUOPHARMA BIOTECH BULLISH ON PERFORMANCE OUTLOOK NEXT YEAR

18/12/2019 05:30 PM

KUALA LUMPUR, Dec 18  -- Duopharma Biotech Bhd continues to have a bullish outlook for its group performance next year, leveraging the country’s higher healthcare allocation under the 2020 Budget.

Group managing director Leonard Ariff Abdul Shatar said the increased allocation for the Ministry of Health reflected the government’s commitment to ensuring sufficient medicines supply for Malaysians.

“About 55 per cent of our sales are from the government sector, hence, we anticipate that next year would be a better year for the group,” he told reporters at the launch of Duopharma Biotech Bhd’s rebranding exercise here today.

Permodalan Nasional Bhd (PNB) president and chief executive Jalil Rasheed officially launched the company’s new corporate logo and identity, witnessed by Duopharma Biotech chairman Tan Sri Siti Sa'diah Sheikh Bakir.

Expounding Duopharma Biotech’s expansion plan, Leonard Ariff said the company’s warehouse in Klang has been completed and is waiting for the Certificate of Completion and Compliance (CCC), while its new factory, once completed, would increase its capacity by 50 per cent.

Over the last three years, he said the group had invested over RM300 million in capital expenditure, including the 2020 investment.

“Currently, our local consumption contributed about 92 per cent of the group sales while the balance are from exports.

“We are reinvesting in our factories to increase the level of exports. Ideally, we expect the exports to be around one-fifth or 20 per cent of the revenue. Primarily, the export would be to ASEAN countries but we are also looking at the Middle Eastern and North African (MENA) countries,” he said.

On another note, Leonard Ariff said despite being capable of self development, the group would continue to look out for new collaborations with pharmaceutical companies to accelerate the introduction of products into the local markets, and attributed partnerships to the success of its growth for the last five to six years.

He said the group has about 700 product lines and is actively promoting around 200 to 250 product lines, with the introduction and retirement of up to 12 products a year.

At the event, Duopharma Biotech also inked a memorandum of understanding with KPJ Healthcare Bhd to collaborate in exploring mutually beneficial initiatives and awareness activities relating to halal pharmaceuticals.

He said this year marks the 20th anniversary since the group first received its halal certification for its over-the-counter products in 1999.

“We will continue to intensify our focus on halal pharmaceuticals as we believe the demand for such products is growing and provides the group with a differentiated offerings among generic manufacturers,” he added.

-- BERNAMA


BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2024 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy