PHARMANIAGA EYES THAILAND, MYANMAR MARTS

KUALA LUMPUR, Aug 17 (Bernama) -- Pharmaniaga Bhd, which has a presence in
Vietnam and Indonesia, plans to enter Thailand and Myanmar by the second-half of
next year.

"We are now evaluating the markets and in the process of registering our
products there," said managing director, Mohamad Abdullah, at a media briefing
here Tuesday.

Mohamad said the registration process would take up to two years and the
company was looking at registering more products.

On its future plans, he said, the company's main growth strategies would be
to grow organically, focus on operational excellence as well as capacity
enhancement.

He said the company would also continue to focus on expanding into new
markets and developing new products.

Mohamad said the company expected to record higher revenue and profit.

However, he declined to elaborate.

Pharmaniaga's pre-tax profit for the second quarter ended June 30, 2010 fell
to RM20.3 million (US$6.38 million) from RM24.3 million (US$7.64 million) in the
same quarter last year.

Its revenue, however, increased by 5.1 per cent to RM350.3 million (US$110
million) from RM333.2 million (US$104.46 million) last year, mainly due to
higher sales from the government sector.

He said lower pre-tax profit was due to higher selling and distribution
expenses and personnel costs.

Mohamad said the pharmaceutical industry was expected to grow by between
eight and 10 per cent every year on the continuous demand for medicine and
generic products.

He said the industry was a recession-proof and the demand for medicine would
continue to grow.
-- BERNAMA


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