KUALA LUMPUR – Pharmaniaga Bhd’s shares were marginally higher at noon after the pharmaceutical giant announced its collaboration with China-based Suzhou Ronnsi Pharma Co Ltd (Ronnsi) to commercialise a halal ovine-based anticoagulant.
At 12.19pm, the counter added one point or 1.63% to 62.5 sen, with 726,500 shares changing hands.
In a note, MIDF Research said it is positive about Pharmaniaga’s endeavour in the production of halal medicines and the distribution opportunities in the market.
“Nonetheless, the feasibility of the partnerships and strategies would not be visible until at least next year.
“Meanwhile, we remain positive on the group’s strength in its robust portfolio, despite the ongoing risk of increasing inflationary pressure on raw materials used in pharmaceutical production,” it said.
Last week, Pharmaniaga’s wholly-owned subsidiary, Pharmaniaga LifeScience Sdn Bhd inked a memorandum of collaboration (MoC) with Ronnsi.
Among other things, the MoC will serve as a catalyst for both parties to open up trade routes, research and development, and subsequently the fill and finish manufacturing of the anticoagulant.
In line with the collaboration, Pharmaniaga will be submitting relevant documents to the National Pharmaceutical Regulatory Agency for approval as part of the process of procuring the required raw materials and manufacturing of the drug.
The registration process is expected to complete by 2024. – Bernama, July 18, 2022
