Pharmaniaga sees growth over next three to five years

PETALING JAYA: Pharmaniaga Bhd ( Pharmaniaga) foresees encouraging business growth over the next three to five years, despite the challenging global economic landscape, driven by aggressive product research and development as well as the launch of new products.

“For 2017, we expect only slight growth.

But, from 2018, we are confident of achieving more with over 250 products launched by our domestic and international plants,” managing director, Datuk Farshila Emran told reporters after the pharmaceutical company’s annual general meeting here.

For the financial year ended December 31, 2016 the group posted a pre-tax profit of RM72 million on the back of RM2.2 billion revenue.

Farshila said Pharmaniaga planned to increase its nonconcession business contribution to revenue by end-2017 to 51 per cent from 49 per cent currently.

The company is the sole concession holder to purchase, store, supply and distribute approved drugs and medical products to government hospitals and clinics, and district offices nationwide.

AsforthetwoplantsinIndonesia, Farshila said one was used for logistics and distribution, and the other, for manufacturing.

The company planned to increase production of prescribed and over-the-counter products through the manufacturing plant, PT Errita Pharma.

“Currently, there are 50 products and we are planning to add 12 more by year-end,” Farshila said.

She said Pharmaniaga was eyeing new markets, including the European Union (EU), as it had a EU-certified plant in Puchong.

“We succeeded in obtaining market authorisation in Portugal for one of our products.

It marked the first Pharmaniaga product as ready to be sold in the European market,” she added. — Bernama