Pharmaniaga unveils grand plan to exit from PN17 status FMTNews FMTBusiness
Pharmaniaga slipped into PN17 status in February after it posted a RM664.39 million net loss in Q4 FY2022, and had to make provisions amounting to RM552.3 million on unsold Covid-19 vaccines in stock.
“The group has placed emphasis on expanding our capabilities in the field of biopharmaceuticals, with a focus on the establishment of state-of-the-art manufacturing facilities for vaccines and insulin to address the increasing needs in these therapeutic areas. He said the group is also expecting the negotiation process for its concession renewal to be concluded soon and has been engaged in positive discussions with the health ministry.
On a separate issue, Ahmad Shahredzuan said the group has close to a 10% share in the private generic drugs market, which is significant.
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