KUALA LUMPUR – Pharmaniaga Bhd will be able to supply state governments and the private sector with the Sinovac Covid-19 vaccine at the end of June, depending on the company’s obligation to Putrajaya.
Managing director Datuk Zulkarnain Md Eusope said the company will only be able to supply Sinovac vaccine to other state governments and private sectors after its obligations to the government are completed, reported Bernama.
He added that Pharmaniaga has proposed supplying both imported finished as well as filled and finished vaccines.
“We expect to start supplying to state governments and to the private sector by the third or fourth week of June, depending on our obligation to the government,” he said, adding that Pharmaniaga has pre-booked an additional 10 million doses of the Sinovac Covid-19 vaccine from China.
The company is also poised to fulfil its obligation to supply 12 million Sinovac vaccine doses to the federal government by June or July, as announced by National Covid-19 Immunisation Programme Coordinating Minister Khairy Jamaluddin yesterday.
This will help speed up the federal government’s immunisation programme to achieve its 80% herd immunity target by year-end, said chief financial officer Norai’ni Mohamed Ali.
Meanwhile, Pharmaniaga hopes that control measures implemented by the Indonesian government to curb Covid-19 will mitigate negative impacts to the company’s operation in the country and its overall performance in financial year 2021 (FY2021).
Norai’ni said the Indonesian government has imposed stringent control measures since the second half of last year.
In the first quarter ended March 31, 2021 (Q1 FY2021), the pharmaceutical group recorded lower revenue of RM793 million from RM820 million in Q1 FY2020, weighed down by its Indonesia business, which was hard hit by the pandemic.
However, its net profit was slightly higher at RM23.14 million during the quarter from RM22.40 million previously.
Its Indonesian division registered a deficit of RM1 million amid lower demand due to Covid-19’s adverse impacts.
“Looking at the current economic situation in Indonesia, there is no doubt that there will be an impact in terms of our performance in the country.
“Having said that, the various internal control measures being put in place can mitigate whatever economic problems have impacted our Indonesia operation,” she said during a briefing on Pharmaniaga’s Q1 FY2021 results today.
As for Q2 FY2021, the company expects to record better performance by focusing on operational efficiencies and fiscal discipline throughout its value chain, including the supply and distribution of Covid-19 vaccines. – The Vibes, May 28, 2021
