Kuala Lumpur: Pharmaniaga Bhd reported a net profit of RM29.58 million for the first quarter ended March 31, 2025, showing an increase from RM25.65 million in the corresponding period last year. The company’s revenue for the quarter rose by 9.4 percent to RM1.06 billion, compared to RM964.96 million previously, as stated in a filing with Bursa Malaysia.
According to BERNAMA News Agency, the revenue growth was mainly driven by increased demand in the concession segment, which was attributed to higher volumes of orders from government hospitals and the addition of new products to the Approved Products Purchase List. Managing Director Zulkifli Jafar highlighted that the group continues to deliver consistent performance across all business segments and has achieved several milestones in its biopharmaceutical sector, including the launch of its first flu vaccine and entry into the insulin market.
The group is progressing in expanding its non-concession government business, having secured two significant tenders from the Ministry of Health for the supply of high-value specialty injectable medicines worth RM97.5 million over three years. Furthermore, Pharmaniaga secured a RM139.0 million contract to supply dialysis solutions for the Social Security Organisation through 2029, which reflects continued market confidence in the group’s capabilities. Zulkifli also noted the group’s biopharmaceutical momentum with the award of the RM3.0 million human insulin supply contract from teaching hospitals under the Ministry of Higher Education.
In Indonesia, Pharmaniaga has started contract manufacturing activities with several reputable companies under its Contract Development and Manufacturing Organisation (CDMO). The group has adopted a dual-country approach to grow its manufacturing business, replicating successful initiatives from Malaysia in Indonesia. By sharing expertise and best practices across both markets, the Indonesia division benefits from Malaysia’s research and development through technology transfer while delivering the latest pharmaceutical products to the market.
The company is moving forward with implementing its Regularisation Plan to exit its Practice Note 17 (PN17) status, following shareholders’ approval of resolutions at the extraordinary general meeting held on March 20, 2025. With strategic initiatives in motion, Pharmaniaga remains focused on achieving its growth targets for 2025 and reinforcing its market position across core business segments.