Ekuinas acquires 80% stake in pharma ingredients producer Symbiotica

Ekuinas chief executive officer Datuk Syed Yasir Arafat Syed Abd Kadir.

KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) has acquired an 80% stake in Symbiotica Speciality Ingredients Sdn Bhd, a leading homegrown active pharmaceutical ingredient (API) manufacturer in South-East Asia (SEA).

Ekuinas chief executive officer Datuk Syed Yasir Arafat Syed Abd Kadir said the pharmaceutical industry is a significant economic contributor with remarkable growth potential.

APIs have been identified as a key growth segment for the pharmaceutical sector in the New Industrial Masterplan (NIMP) 2030. The market for corticosteroids, steroid hormones, and non-steroidal APIs is estimated to be worth US$36bil in 2023 and is projected to grow at a compound annual growth rate of 6.7% by 2027.

“Having achieved progressive and consistent growth over the past two decades, and being a well-regulated and certified API supplier, Symbiotica, as one of the largest API manufacturers in SEA, is well-positioned to take advantage of the macro trends driving this sector’s future growth.

“There are clear strategies in place, and we look forward to taking the firm to its next level of growth and contribute to the broader advancement of the pharmaceutical sector as the leading API company in SEA,” he said in a statement. — Bernama