june, 2020 | The Health
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According to Leonard
Ariff, the speciality area
contributed about 20
per cent of total revenue
for Duopharma Biotech
in 2019. The company’s
overall improved financial
performance for that year
was attributed to the higher
sales demand from the
private and public health
sectors.
Growing
consumer
healthcare
business
Aligned with its expansion plans,
Duopharma Biotech Berhad has set up
a new subsidiary known as Duopharma
Consumer Healthcare Sdn Bhd to manage
its consumer healthcare business, which
currently contributes almost 20 per cent
of total revenue. The additional focus
on consumer healthcare will grow this
segment of its business given its recent
success on new launches of its Over The
Counter (OTC) brands such as Flavettes,
Uphamol, Proviton, Eyeglo and others.
Its Group Managing Director Leonard
Ariff Abdul Shatar said Duopharma Biotech
already exports to some 27 countries,
primarily within ASEAN, the Middle East and
Africa.
“The opening of new markets is a
continual process, especially as we develop a
portfolio of products that are differentiated.
Currently, the export market is about 10 per
cent of our revenue.”
Leonard Ariff also acknowledged
that there was much potential for halal
products in the EU and Middle East
markets. However, the registration process
remains a challenge as the regulatory
environment in international markets is
becoming increasingly stringent. In this
regard, Duopharma Biotech has embarked
on an initiative to upgrade the quality of
its dossiers of existing and new products
in addition to improving manufacturing
facilities.
Speaking of enhancing Malaysia’s
attractiveness for pharmaceutical
companies, Leonard Ariff pointed out that
Malaysia has a market of 34 million people,
which is considered small.
“To attract pharmaceutical companies to
Malaysia, we must consider various factors.
For example, the process of registering
drugs will play a role. Incentives that
companies will need to set up operations,
namely manufacturing facilities, need to be
attractive,” he shared.
Leonard Ariff added that other incentives
such as an attractive tax structure, market
access to the MoH, patent recognition,
availability of relevant human capital,
specific R&D capabilities and the creation
of an ecosystem to support the pharma
industry could entice more companies to
operate here.
(APPL) contract extended by a further 25
months from Dec 1, 2019, until Dec 31, 2021.
In addition, the company is seeking to bid
for further contracts called by the Ministry
of Health (MoH).
Leonard Ariff said that while the
company was pleased with the extension
of the government APPL contracts, it
remained cautious about raw materials
and supply chain costs, as well as the USD
exchange rate to the Ringgit.
“We anticipate global raw material
supply issues as supplier markets China
and India have been impacted by the Covid-
19 crisis. However, for 2020, we remain
committed to expanding our range of
speciality products while also augmenting
our small molecules portfolio.”