The group worked closely with the RDIF and the Gamaleya Institute in response to the NPRA’s review for the conditional approval application.
by LYDIA NATHAN / photo by TMR FILE
DUOPHARMA Biotech Bhd has entered into supply agreements for Russian vaccine Sputnik V for Malaysian use and plans to execute the deal by May 31.
In January, the pharmaceutical giant signed an agreement to provide the Malaysian government with 6.4 million doses of the vaccine developed by Russia as part of a government-to-government effort, initiated by the Russian Ministry of Industry and Health. Commerce and the Ministry of Science, Technology and Commerce. Innovation.
The agreement was signed through its subsidiary Duopharma (M) Sdn Bhd in collaboration with the Russian Direct Investment Fund (RDIF) and the Ministry of Health (MoH).
As of May 17, 68 countries have approved Sputnik V under emergency use authorization.
Duopharma Group MD Leonard Ariff Abdul Shatar (Photo) said the group has worked closely with RDIF and the Gamaleya Institute in response to the National Drug Regulatory Agency’s (NPRA) review for the conditional approval application.
“We have the full support of the government and the NPRA, and look forward to receiving conditional approval soon. We look forward to supporting the national Covid-19 vaccination program, ”he said. Malaysian Reserve (TMR) in a reply yesterday.
According to Leonard Ariff, the pharmaceutical company is committed to working on the manufacture and supply of various types of vaccines.
“We already have a biological filling and arrival line in place, in addition to a pre-filled syringe filling line at our factory in Klang, and we are currently engaged in the construction of a facility, which is scheduled for organic production. Duopharma’s planned investment in vaccine production facilities is aligned with the government’s long-term goal of ensuring national vaccine self-sufficiency, ”he said.
The group announced better results for the first quarter ended March 31, 2021 (1Q21) and a one-for-three bonus issue.
Its net profit increased to RM17.61million in the quarter from RM13.56million in 1Q20 as it achieved higher sales in the healthcare sector, while quarterly profit increased. to RM 166.45 million compared to RM 158.71 million the previous year.
Leonard Ariff said Duopharma’s share price has accelerated thanks to a few important factors, including market confidence supported by strong sales, especially in the consumer health sector, which has seen consumers shrink. focus more and more on strengthening the immune system by consuming more vitamin C in particular.
“We recently won the tender for Erythropoietin (EPO) MoH with our EPO Erysaa brand and we also supply Biocon insulin with exclusive marketing and distribution rights. In addition to this, the highly potent active pharmaceutical ingredients factory that produces letrozole (Lebreta brand) which currently treats cancer is currently supplied to private and public markets, ”he said.
Leonard Ariff noted that the group realizes that it needs to strengthen its cash flow by cutting spending in Malaysia, as well as for its regional offices in Singapore and the Philippines to ensure its collections remain strong.
He said the group is focused on developing a viable digital strategy, with a focus on growing existing business and creating new areas of focus, such as digital health, cells strains, neurodegenerative diseases and diagnostic platforms.
Duopharma will maintain its efforts in sustainability, good governance and integrity, and will continue to review and strengthen internal operations in this context.
“An example of this would be the application of digital technologies to increase compliance with regulatory requirements through a platform for tracking and tracing dangerous drugs.
“We also invested in a local company called Naluri Hidup Sdn Bhd, which provides access to a game-changing digital health management app in general well-being and we are confident there would be more direct and indirect benefits that could be derived from the app for our existing business as well, ”added Leonard Ariff.