PETALING JAYA: Duopharma Biotech Bhd is moving into 2020 with a four-pronged growth strategy which will see the group embracing the expansion of consumer healthcare product portfolios; diversifying into high-value biologicals and niche products; upgrading manufacturing facilities into world-class assets; and enhancing its Asean presence.
Group managing director Leonard Ariff Abdul Shatar said the group is retaining its focus on strengthening its base while pushing through to new frontiers.
“The year saw us maintain our position as the leading pharmaceutical company in Malaysia in terms of sales volume and No. 2 in terms of value. This was aided by strong performance by our consumer healthcare business, and particularly that of Flavettes Effervescent (vitamin C) which has rapidly become the best-seller in its category of immune boosting range of products. We also launched another biosimilar – uhera for breast cancer, apart from rysaa which is to treat anaemia.”
Duopharma is also about to launch Letrozole, a breast-cancer treatment product, produced at its highly potent active pharmaceutical ingredients plant in Glenmarie. It is also expanding its halal platform.
He added that good progress has been made in the group’s manufacturing optimisation strategy via investments made in new assets, automation and the adoption of cutting-edge technologies to increase operational efficiencies.
On regional expansion, Leonard said it is regaining its foothold in Vietnam and Laos by identifying potential partners in both markets.
Duopharma Biotech's Asean market activities contributed the most to its international business in 2019, charting 21% growth, which included increased performance from the Brunei and Myanmar markets.
In the wake of the Covid-19 pandemic, Leonard said 2020 will be more challenging compared to previous years.
However, given that contract periods for the supply of pharmaceutical and/or non-pharmaceutical products to hospitals, clinics and others under the Approved Product Purchase List has been extended to Dec 31, 2021 and the contract period of the Offtake Agreement Program for the supply of human insulin formulations has been extended until Dec 1 2020, augurs well for the group.
“Additional allocation has been provided to the Health Ministry as part of measures to combat the Covid-19 outbreak. This augurs well with the group as approximately 50% of our sales are to public service sector. In this aspect, we are optimistic that the healthcare sector will continue to grow in 2020,” he said.
Finally, as part of its efforts to boost digitalisation in the healthcare industry Duopharma Biotech recently invested more than RM1 million in a local digital therapeutics pioneer, Naluri Hidup Sdn Bhd, to provide an online holistic health management platform which aims to improve the health of people with risks of chronic conditions.
source https://www.thesundaily.my/business/duopharma-biotech-implements-four-pronged-growth-strategy-DF2601115
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