29 August 2017 | News
The deal enables CCM to supply and deliver human insulin products to all government clinics and hospitals for three years
Malaysia’s biotech major, CCM Duopharma Biotech Bhd announced that its wholly-owned unit CCM Pharmaceuticals Sdn Bhd has inked an agreement to supply and deliver human insulin products to all government clinics and hospitals for three years. CCM Pharmaceutical is the reseller of the human insulin, which is manufactured by Biocon Sdn Bhd in Nusajaya, Johor.
Though Malaysia is the company’s principal market CCM Duopharma also sells its products in Singapore, Vietnam, Indonesia, Mauritius, Maldives and the Philippines. To further expand its business, the company is actively looking for M&A targets over the last three to four years, the edge Malaysia reported.
The leading weekly also said that CCM Duopharma Biotech Bhd has identified two potential merger and acquisition (M&A) targets in Indonesia. CEO Leonard Ariff Abdul Shatar says evaluations are ongoing but nothing has been decided yet. “The regulations are designed in such a way that if you want to access the Indonesian market effectively, you should be manufacturing domestically. In the longer term, we will definitely have to grow our exports business. We have to rebalance the portfolio.” quoted the weekly.
The company has set its sights on the overseas market as part of a larger drive to increase the sales contribution from exports. In the financial year ended Dec 31, 2016 (FY2016), it recorded sales of RM36.66 million from its exports segment, which made up 11.7% of total turnover.