PETALING JAYA: Duopharma Biotech Bhd’s net profit for the second quarter ended June 30, rose 6% to RM14.73 million from RM13.92 million a year ago, thanks to local sales, but revenue fell by 1.5% to RM143.33 million versus RM145.47 million last year.
For the first six months of 2020, Duopharma Biotech registered a net profit of RM28.29 million, against RM28.38 million previously, on a 2.09% increase in revenue to RM302.04 million from RM295.85 million, mainly attributable to higher demand from the consumer healthcare sector.
An interim dividend of 0.5 sen per share has been declared.
Duopharma Biotech group managing director Leonard Ariff Abdul Shatar said despite the huge international and domestic uncertainties arising from the Covid-19 pandemic, there has been sustained demand for Duopharma Biotech’s pharmaceutical products from both the private and public health sectors.
“Although 2020 is proving to be more challenging than previous years, we continue to remain cautiously optimistic of our FY2020 performance,“ he said in a statement.
He shared that the company’s new Highly potent Active Pharmaceutical Ingredients (HAPI) plant is in full operational mode with the manufacture and supply of its first product Letrozole (a cancer drug), to both the private market and for government tender.
“Concurrently, we are preparing for the technology transfer process to Duopharma Biotech of a second product during August 2020.”
Additionally, he confirmed that the contract period for the supply of pharmaceutical and/or non-pharmaceutical products to hospitals, clinics and others under the Malaysian government has been extended for 25 months, until Dec 31, 2021.
Also, the contract period of the Offtake Agreement Programme for the supply of human insulin formulations has been extended for one year, from Dec 2, 2019 until Dec 1, 2020.
source https://www.thesundaily.my/business/local-sales-boost-duopharma-biotech-s-q2-earnings-KE3464158
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