KUALA LUMPUR – Pharmaniaga Bhd is expected to complete its contractual obligation of supplying 12 million Sinovac Covid-19 vaccine doses to the federal government by next month, sufficient to cover some 18% of the Malaysian population.
Group managing director Datuk Zulkarnain Md Eusope said the vaccine has been approved by the World Health Organisation, adding that the recognition is a boost of confidence in the battle against the pandemic.
“We are bullish on the group’s outlook this year and expect a better financial year 2021 performance with the continuous ramping up of the Sinovac vaccine supply.
“The China Food and Drug Administration has recently given emergency approval for the Sinovac Covid-19 vaccine to be administered to children aged 3 to 17 and manufacturing of two doses per vial before submitting it to the National Pharmaceutical Regulatory Agency (NPRA) for the variation process.”
He said Pharmaniaga will be submitting relevant documents to NPRA for the variation process soon.
Upon obtaining approval from the agency, it will be able to ramp up its capacity from two million to four million doses a month, he added.
As part of the company’s long-term sustainability plan, Zulkarnain said the group aims to accelerate the growth of its halal vaccine manufacturing business.
“Our plan to establish the world’s first halal vaccine facility is progressing well by working closely with the Malaysian Investment Development Authority and Halal Development Corporation Bhd.
“The halal vaccine project has been selected as a pioneering initiative for policy and incentive development purposes.”
Zulkarnain said the halal facility is targeted to start operating in 2024 and create a new revenue stream for the group, adding that the initiative will generate multiple positive spillover benefits, including improving the nation’s pandemic preparedness towards cultivating a sustainable vaccine supply chain.
In addition, he said, it is expected to provide opportunities for upskilling local talent and increase access to affordable vaccines for both local and international markets.
He said these will subsequently position Malaysia as a global vaccine manufacturer.
Boustead Holdings Bhd and Lembaga Tabung Angkatan Tentera hold stakes of 55.93% and 11.23%, respectively, in Pharmaniaga.
At lunch break, shares of the pharmaceutical company soared 7.36% to RM5.54, with 5.25 million shares transacted. – Bernama, June 16, 2021
