The Health June 2020 | Page 21

june, 2020 | The Health 11 . ality tal . ial d to te e oth s l t tal t According to Leonard Ariff, the speciality area contributed about 20 per cent of total revenue for Duopharma Biotech in 2019. The company’s overall improved financial performance for that year was attributed to the higher sales demand from the private and public health sectors. Growing consumer healthcare business Aligned with its expansion plans, Duopharma Biotech Berhad has set up a new subsidiary known as Duopharma Consumer Healthcare Sdn Bhd to manage its consumer healthcare business, which currently contributes almost 20 per cent of total revenue. The additional focus on consumer healthcare will grow this segment of its business given its recent success on new launches of its Over The Counter (OTC) brands such as Flavettes, Uphamol, Proviton, Eyeglo and others. Its Group Managing Director Leonard Ariff Abdul Shatar said Duopharma Biotech already exports to some 27 countries, primarily within ASEAN, the Middle East and Africa. “The opening of new markets is a continual process, especially as we develop a portfolio of products that are differentiated. Currently, the export market is about 10 per cent of our revenue.” Leonard Ariff also acknowledged that there was much potential for halal products in the EU and Middle East markets. However, the registration process remains a challenge as the regulatory environment in international markets is becoming increasingly stringent. In this regard, Duopharma Biotech has embarked on an initiative to upgrade the quality of its dossiers of existing and new products in addition to improving manufacturing facilities. Speaking of enhancing Malaysia’s attractiveness for pharmaceutical companies, Leonard Ariff pointed out that Malaysia has a market of 34 million people, which is considered small. “To attract pharmaceutical companies to Malaysia, we must consider various factors. For example, the process of registering drugs will play a role. Incentives that companies will need to set up operations, namely manufacturing facilities, need to be attractive,” he shared. Leonard Ariff added that other incentives such as an attractive tax structure, market access to the MoH, patent recognition, availability of relevant human capital, specific R&D capabilities and the creation of an ecosystem to support the pharma industry could entice more companies to operate here. (APPL) contract extended by a further 25 months from Dec 1, 2019, until Dec 31, 2021. In addition, the company is seeking to bid for further contracts called by the Ministry of Health (MoH). Leonard Ariff said that while the company was pleased with the extension of the government APPL contracts, it remained cautious about raw materials and supply chain costs, as well as the USD exchange rate to the Ringgit. “We anticipate global raw material supply issues as supplier markets China and India have been impacted by the Covid- 19 crisis. However, for 2020, we remain committed to expanding our range of speciality products while also augmenting our small molecules portfolio.”