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Sunday, July 26, 2015

CCM Duopharma sets to grow Biotherapeutics portfolio

PETALING JAYA: CCM Duopharma Biotech Bhd (CCMD), which recently has acquired six pharmaceutical units from parent company, Chemical Company of Malaysia Bhd (CCM), is set to grow its biotherapeutics' market access in the private, government and export sectors by expanding its product offerings.
"We also aspire to expand our offerings beyond our shores and boost exports to the over 20 countries which we are currently present in, with primary focus on the Middle East and Asean region," CCMD CEO Leonard Ariff Abdul Shatar said in a statement yesterday.
He said CCMD plans to grow its biotheraphy pipeline by exploring new niche therapeutic areas, such as biologicals and biotherapies, specifically erythropoietin (EPO) and insulin, targeting for it to contribute 30% of CCMD's revenue base by 2020.
"We have set our sights to become Malaysia's largest pharmaceutical manufacturer following our purchase of six pharmaceutical units from our parent company, CCM."
"We believe the acquisitions will set the course for sustainable growth for CCMD going into 2018 onwards," he added, noting the acquisitions would also allow it to bid for larger contracts.
Moving forward, he said the group sees good potential growth in the biotherapeutics area.
He said although the biotherapeutics industry is largely dominated by global players, the segment is expected to expand at a compounded average growth rate of 12% in Asia to an estimated RM8 billion in the Southeast Asia region by 2020.
On its halal pharmaceutical segment, Leonard said CCMD will continue to leverage its position as a pioneer in the halal segment and through active involvement in Halal initiatives and collaborations with leading Halal advocates locally and abroad.
For the first quarter ended March 31, 2015, the group's net profit grew to RM8.96 million from RM8.36 million in 2014.
Revenue rose 12.6% to RM45.6 million against RM40.5 million a year ago, driven by higher demand from government hospitals via the tender business and private sector.
http://www.thesundaily.my/news/1433400

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