Duopharma Biotech Berhad’s recent annual general meeting (AGM) highlighted its progress in growing and transforming its business in line with market evolution.
The Group had ended FY2022 with its highest ever revenue of RM696.72 million, a nine per cent increase from RM638.18 million in FY2021. In the same period, profit before tax (PBT) saw an increase of 2.25 per cent to RM84.85 million from RM82.98 million the previous year. The Group revenue comprised 94 per cent from local sales with the segment also accounting for 94.9 per cent of total gross profits.
Duopharma Biotech’s performance was boosted by higher sales generated from prescription pharmaceuticals under the ethical classic business and the public health sector. The company won a three-year contract worth RM375 million to supply Insugen to the Ministry of Health’s facilities from April 29, 2022 to April 28, 2025.
Duopharma Biotech chairman Tan Sri Paduka Siti Sa’diah Sh Bakir commented: “In 2022, Duopharma Biotech continued to create value by offering access to effective and affordable treatments for all consumers. We are also continuing our efforts to meet targeted needs among patients and consumers, such as halal pharmaceuticals and plant-based products.”
Group managing director Leonard Ariff Abdul Shatar added: “In Duopharma Biotech’s business outlook, we are extremely encouraged by the healthcare reforms direction taken in the revised Budget 2023, which includes a record 12 per cent.”
Meanwhile, Duopharma Biotech recently unveiled its new regional office in German Centre, Singapore reinforcing its commitment to the Singaporean market. The Singapore office has played a key role in charting Duopharma Biotech’s regional and international footprint, driving business activities and opportunities.
As the key growth hub, the new office reflects Duopharma Biotech’s increasing footprint thus strengthening its position in the region. “Our key objective is ensuring that we meet the needs of patients and consumers by making our products available, accessible and affordable to a wide and diverse range of customers, including preventive medicine and early detection offerings.
“And for the benefit of our Muslim patients and consumers, all products manufactured in our facilities are certified Halal by the Department of Islamic Development Malaysia (JAKIM). Duopharma Biotech is the first producer of the world’s first halal-certified cancer drug,” commented Leonard Ariff.
Duopharma Biotech has a portfolio of 78 products sold in Singapore, comprising ethical and consumer healthcare products. The company is active in the market segments of private general practitioners, hospitals, retail, government, etc.
The launch was graced by the High Commissioner of Malaysia to Singapore Datuk Dr Azfar Mohamad Mustafar. Duopharma Biotech was represented by Leonard Ariff and its Commercial CEO, Wan Amir Jeffrey Wan Abdul Majid. – The Health