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GREEN PHARMA PROJECT IN PERLIS TO BE COMPLETED BY 2029

18/06/2024 12:23 AM

KUALA LUMPUR, June 17 (Bernama) -- North Duchess Pharmaceuticals (NDP) signed a Memorandum of Understanding (MoU) with Allied Identity USA Group today to develop the Green Pharma Project in Perlis.

North Duchess Malaysia Sdn Berhad founder and director, Tengku Syarif Temenggong Perlis Datuk Seri Syed Amir Abidin Ibni Almarhum Tuanku Raja Syed Putra Jamalullail and the managing director of Asia Pacific Operations of the Allied Identity USA Group Steve Huffman signed the agreement on behalf of their companies. 

"This initiative is expected to create over 300 jobs for semi or highly-skilled professionals and tap into Malaysia's growing pharmaceuticals market, valued at RM16 billion in 2023, offering a stable growth rate of eight to 10 per cent annually.

"The project's sustainable healthcare manufacturing focus includes the construction of a GMP-compliant Halal pharmaceutical solid dosage plant in Perlis and the production of Halal-certified pharmaceuticals for the Health Minister within 36 months, with plans for international expansion within 48 years," North Duchess Malaysia Sdn Bhd chief executive executive officer (CEO) Che Puan Temenggong Perlis Datin Seri Farinawati Mohd Din said in a press conference held after the MoU signing ceremony here, yesterday.

She also shared that it would take five years to complete the project, which is focused on production of diabetics, high blood pressure and high cholesterol medication.

The project, which will be developed in Chuping Valley, Perlis, aims to revolutionise pharmaceutical manufacturing in Malaysia by diversifying Perlis's economic base and become a significant revenue driver within 36 months of acquisition, Che Puan Temenggong Perlis said.

In addition, the project is projected to generate a total revenue of RM 465 million over five years with an operational profit forecast of RM183 million.

"This project represents not just an investment in infrastructure but a commitment to advancing healthcare solutions and meeting the growing medication demands of our nations and global community.

"We aim to set new standards in eco-friendly manufacturing, leveraging cutting-edge technologies to minimise our environmental footprint and uphold the highest standards of safety and quality," she said.

Meanwhile, Steve Huffman said Malaysia is a very strategic market and there was great potential to export medication to neighbouring countries such as Cambodia, Thailand, and the Philippines.

"So, we want to make sure that whatever we do, we take care of the Malaysian market for drugs, but we also set up a provision for where we can export and diversify the revenue streams to make sure it's sustainable," he added.

He was happy to note that the partnership represented a critical milestone, combining resources and expertise to advance sustainable pharmaceutical solutions in Perlis.

-- BERNAMA

 

 

 

 


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