Pharmaniaga says no longer burdened by PhIS after Q4 losses

KUALA LUMPUR: Drugmaker Pharmaniaga Bhd said revenue increased 20% in the last quarter on improved demand, but a huge one-time hit on expenses incurred for the Pharmacy Information System (PhIS) resulted in heavy losses for the company.

The company registered a net loss of RM178mil in the December quarter that dragged its full year earnings down to RM42.5mil.

"This loss recorded for the quarter under review is a direct impact of Pharmaniaga fulfilling the contractual obligations of the PhIS under the concession agreement by the Government," it said in a statement today.