Duopharma's strategy to boost consumer healthcare products


  • Corporate News
  • Wednesday, 17 Jun 2020

Group managing director Leonard Ariff Abdul Shatar said the company has maintained its position as the leading pharmaceutical company in Malaysia in terms of sales volume and number two in terms of value, which was aided by strong performance of its CHC business.

KUALA LUMPUR: Duopharma Biotech Bhd plans to implement a four-pronged strategy to expand its consumer healthcare (CHC) product portfolios, diversify into high-value biologicals and niche products, upgrade manufacturing facilities and enhance its Asean presence.

Group managing director Leonard Ariff Abdul Shatar said the company has maintained its position as the leading pharmaceutical company in Malaysia in terms of sales volume and number two in terms of value, which was aided by strong performance of its CHC business.

"Flavettes Effervescent (vitamin C), in particular, has rapidly become the best-seller in its category of immune boosting range of products. We have also launched another biosimilar - Zuhera for breast cancer, apart from Erysaa, which is to treat anaemia, ” he said in a statement issued after the group’s virtual annual general meeting on Wednesday.

In addition to growing Duopharma Biotech's conventional portfolio of products, the group has continued to expand its halal pharmaceutical segment due to its huge business potential, as well as to give a peace of mind to its Muslim customers, as 95% of all Duopharma Biotech manufactured products are halal certified.

On broader market expansion, he said good progress has been made in the group’s Manufacturing Optimisation Strategy via investments in new assets, automation and adoption of cutting-edge technologies to increase operational efficiencies.

During the year, he said Duopharma Biotech replaced the soft-gel encapsulation machine at its manufacturing plant in Bangi with a new system that provides improved efficiency, fills volume accuracy and ensures sustainability of supply to customers.

Commenting on its Asean market activities, he said the segment contributed the most to its international business in 2019, charting a 21 per cent growth, which included increased performance from the Brunei and Myanmar markets.

"As part of our efforts to strengthen Asean presence, we are regaining our foothold in Vietnam and Laos. We are currently identifying potential partners in both markets, and product registration is also ongoing, ” he said.

While 2020 will likely be more challenging than previous years, he said the group was cautiously optimistic of its 2020 financial year performance moving forward.

He said under the national 2020 Budget, the allocation for the healthcare sector increased 6.6 per cent to RM30.6 billion, the highest ever in the country’s history.

"Additional allocation has been provided to the Ministry of Health as part of measures to combat the Covid-19 outbreak. This augurs well for the group as approximately 50 per cent of our sales go to the public service sector. In this aspect, we are optimistic that the healthcare sector will continue to grow in 2020, ” he added. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Across the site