Pharmaniaga will be competitive despite PN17 status, says Health Minister

PETALING JAYA: Pharmaniaga Berhad has assured the government that it will continue to be strong and competitive, says Health Minister Dr Zaliha Mustafa.

She said this in a statement Friday (March 31) after the media raised the issue on the company's PN17 status, which was feared to impact the supply of drugs and non-drugs as well as its ability to repay pharmaceutical and medical equipment companies under it.

A PN17 company is a listed company that does not have a core business or has failed to meet the minimum capital or equity and its shareholders' funds.

"In connection with this issue, the ministry arranged a meeting between the representatives of Pharmaniaga, Malaysian Organisation of Pharmaceutical Industries (Mopi) and Pharmaceutical Association of Malaysia (Phama) on March 31.

"The meeting was held to give Pharmaniaga the opportunity to shed light on the company's current position as well as its plans to ensure that the supply of drugs and non-drugs to all Health Ministry facilities are not interrupted," she said, adding that this included claims that Pharmaniaga had delayed payments to pharmaceutical and medical equipment companies.

She said Pharmaniaga had given a commitment that its subsidiary, Pharmaniaga Logistic Sdn Bhd (PLSB) as a concession company appointed by the government to supply more than 700 drugs and non-drugs products, would continue to be strong and competitive.