InstaForex

August 26, 2021

Now Going Into Overseas Markets, Pharmaniaga Continues To Seize The Opportunity!

 Pharmaniaga Bhd, which is the sole Malaysian licensee to distribute Sinovac vaccine, is working to expand its business to Southeast Asia and Africa.


The move was implemented to be a contribution to its income to grow more advanced and strong.


Pharmaniaga Group Managing Director, Datuk Zulkarnain Md Eusope said the markets in Southeast Asia and Africa were seen to have great potential to be a boom in supplying vaccines.


It has also been assessed and saw the population in the Southeast Asian region exceeds 700 million people and on the continent is seen to have a total of 1.3 billion people.


Having completed the distribution and supply of Sinovac Covid-19 vaccine to the central government in a total of 20.4 million doses, Pharmaniaga is actively looking for opportunities to export the vaccine overseas.


"Every country we discuss, we also have to get approval from Sinovac Life Sciences Co Ltd because they are our main source of supply," he added.



Zulkarnain also said that Pharmaniaga will continue its production at the plant of its wholly -owned subsidiary, Pharmaniaga Life Science Sdn Bhd.


Recently, Pharmaniaga has obtained approval from the National Pharmaceutical Regulatory Agency to manufacture, fill and complete the Sinovac vaccine with two doses per bottle.


The factor also helps to increase the plant’s capacity in supplying Sinovac vaccine from two million to four million doses per month starting from August 2021.


To date, Pharmaniaga has supplied 18.4 million doses of Sinovac in Malaysia out of a total of 20.4 million doses ordered by the central government.


The implementation also drove Pharmaniaga's net profit to increase by 37.3% to RM13.7 million in the second quarter ended June 30, 2021 from RM9.98 million last year.


The company's revenue also jumped by 82.28% to RM1.18 billion from RM645.76 million recorded previously.