Frontrunner, Pharmaniaga Berhad secured the government’s contract to repackage and distribute the Covid-19 vaccine. According to the company’s Acting Managing Director Mohamed Iqbal Abdul Rahman, there is only a minimal investment of less than RM2 million will be needed to further gear up the plant.
As we know PHARMA is one of few companies identified by the government recently to use their existing facilities for bottling the vaccine when it becomes available. PHARMA also said its sterile liquid injectable plant is suitable to use to cater the fill and finish process of Covid-19 vaccine, which can cater to around 19 million doses per month.
According to Mohamed Iqbal, PHARMA is on tractk to establish a halal vaccine facility, the world’s first which is targeted for completion by 2022. Mohamed Iqbal also believes the pharmaceutical sector will remains resilient amidst the ongoing pandemic for financial year ahead.
Mohamed Iqbal also noted that the first quarter earnings have always been higher for PHARMA as it receives a big purchase from government, which would then normalize later in the year. PHARMA continues to receive 50% of its earnings from its government concession with the remaining from the private sector. However, moving forward the company intends to increase its presence in the private sector by increasing its product range, especially in the over-the-counter segment.
Mohamed Iqbal also noted that the first quarter earnings have always been higher for Pharmaniaga as it receives a big purchase from the government, which would then normalize later in the year. PHARMA continues to receive 50% of its earnings from its government concession with the remaining from the private sector. However, moving forward the company intends to increase its presence in the private sector by increasing its product range, especially in the over-the-counter segment.
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https://klse.i3investor.com/blogs/stockpick2u/2020-08-25-story-h1512509866-Pharmaniaga_said_is_able_to_repackage_10_million_doses_of_Covid_19_Vacc.jsp
