Duopharma Biotech Aims To Expand Pharmaceutical Footprint Into Asean & Beyond

SHAH ALAM (Selangor, Malaysia) May 31 (Bernama) -- Duopharma Biotech Bhd aims to expand its pharmaceutical footprint into ASEAN and beyond, supported by encouraging export sales to the region which grow 23 per cent year-on-year. Group managing director Leonard Ariff Abdul Shatar said to fast-track the expansion, the group was planning to collaborate with other pharmaceutical companies in the region. “Internationally, we have also penetrated four new export markets - Ghana, South Africa, Oman and Qatar,” he told a press conference after the company’s annual general meeting, here Friday. At the same time, he was hoping regulatory bodies in ASEAN countries would streamline their requirements as currently, each body had a slightly different regulation from the other. “We are (also) exploring other markets, (so) it is a bit of chicken and egg situation as there are various regulatory authorities in each country, (and) sometimes they implement their own requirements that are not common. “So a lot of our efforts are spent upgrading existing dossier to meet standards that will be more applicable across multiple countries,” he said. On halal agenda, he said more than 95 per cent of the group’s products had been certified by the Department of Islamic Development Malaysia and Indonesian Council of Ulama by the end of 2018. "These certifications will put us on a better level in our quest to penetrate more markets where there is a demand for halal pharmaceutical products," added Leonard. He said despite operating in a very regulated and competitive industry, Duopharma Biotech was able to maintain its market leadership in terms of sales volume while moving up one spot to the second position in terms of value in Malaysia. It is a position it held till the close of 2018, according to IQVIA Report, December 2018. “We are confident of Duopharma Biotech's outlook for 2019, especially as we have begun to enhance our manufacturing capabilities while entering into various strategic partnerships that provide a steady flow of speciality therapeutic products. "We are also better positioned to expand into yet untapped segments of the Malaysian market while making advances into ASEAN and the wider international space. "Several contracts with the Malaysian and foreign governments (Singapore and Brunei) have been extended until end-2019, and our team will focus on winning more tenders to ensure steady and reliable income,” he added. --BERNAMA