KUALA LUMPUR, Aug 20 — Pharmaniaga Bhd’s net profit for the second quarter ended June 30, 2021 rose to RM13.7 million from RM9.98 million recorded in the same period a year ago.
Revenue jumped 82 per cent to RM1.2 billion from a year ago, mainly due to higher demand from all segments, including businesses in Indonesia.
“The significant increase in non-concession business was attributable to the sales of Sinovac COVID-19 vaccine to the Ministry of Health (MOH),” the company said in a stock exchange filing with Bursa Malaysia.
The pharmaceuticals group said in tandem with higher revenue, its earnings before interest, taxation, depreciation, and amortisation (EBITDA) registered a 28 per cent growth to RM39 million from RM30 million.
Correspondingly, profit before zakat and taxation (PBT) for the quarter registered a 55 per cent growth to RM22 million from RM14 million compared with the previous corresponding quarter.
The group said its prospects remain promising and that it is ready to meet Malaysia’s healthcare needs.
As a leading pharmaceuticals company, Pharmaniaga said it is well positioned to leverage on the robust opportunities offered by the growing healthcare sector.
A proactive step was taken by the group to accelerate the supply of the Sinovac COVID-19 vaccine to the government by importing finished vaccines from Sinovac, which were distributed in parallel with the supply of fill and finish vaccines from its own plant in Puchong.
The group successfully delivered the last batch of the COVID-19 vaccine totalling 12.4 million doses to the government on July 21, 2021, 4.5 months ahead of the initial contract schedule.
In addition, the group has also supplied an additional two million doses to the government at the end of July.
On Aug 11, the group received an order from the government for the combined purchase of an additional six million doses of fill and finish and the imported finished product of the COVID-19 vaccine.
“Moving forward, given Pharmaniaga’s capability to continuously manufacture fill and finish Sinovac COVID-19 vaccine, we are in a strategic position with the capacity to supply the vaccine to the Federal Government, state governments as well as the private sector in ensuring that the administration of vaccination process runs smoothly and speedily,” it said.