The government has accepted the tender offer from Duopharma Marketing Sdn Bhd, (DMktg), a wholly-owned subsidiary of Duopharma Biotech Berhad, to supply Insugen, a human insulin formulation, to all Ministry of Health (MoH) hospitals, district health offices and clinics.
The supply contract, worth RM375.17 million, will run for three years, from Dec 17, 2021, to Dec 16, 2024, the company said on Dec 17.
“With an estimated 3.9 million diabetics in Malaysia, DMktg intends to improve diabetes management in the country by supplying high-quality, cost-effective biosimilar insulin,” the company added. Of the 3.9 million, 420,000 patients are treated using human insulin in government hospitals and clinics.
The contract was in the group’s normal course of business since it is principally involved as a manufacturer, distributor, importer, and exporter of pharmaceutical products and medicines, according to the company.
It anticipates that the contract will boost the company’s future earnings and earnings per share in the current fiscal year (FY) as well as FY2022, FY2023, and FY2024.
Meanwhile, Duopharma Biotech said in a statement on Dec 15 that it had launched the new Flavettes Nutriskincare range, expanding its consumer healthcare portfolio into the health and beauty segment through the established Flavettes brand.
Using the tagline “Be Seri-Seri Inside Out”, the new Flavettes Nutriskincare range is positioned as a complete skincare offering, with effective products in the easily absorbed effervescent format, emphasising the importance of the right nutrition in holistic beauty routines.
“For Duopharma Biotech, we are using our expertise in pharmaceutical manufacturing of effective nutritional supplements to offer a holistic skincare and beauty approach from the inside out – making it an integral part of a good skin care regimen. The new Flavettes Nutriskincare range – developed with full scientific rigour like our other pharmaceutical grade products, offers an innovative triple-action formulation to improve overall skin health from the cellular level,” said Leonard Ariff Abdul Shatar, Group Managing Director, Duopharma Biotech.
“In fulfilling our vision of “Providing Smarter Solutions for a Healthier Life” and our mission of being the “Leading Healthcare Group Providing Quality and Innovative Solutions”, Duopharma Biotech has continuously explored new areas and offerings in healthcare as an industry leader and champion of halal pharmaceuticals.
“Through the new Flavettes Nutriskincare range, we are taking another bold step in the evolution and expansion of our Consumer Healthcare segment, we are moving into the real beauty segment to meet the growing demand.
“Tapping on the market leadership of our Flavettes Effervescent range, we are using our knowledge of popular nutritional supplement formats to deliver the nutrients that are required for healthy, beautiful skin,” he added.