PHARMANIAGA (PHARMA)’s financial year 2025 (FY25) profit after tax , amortisation and minority interest came in at RM49 mil (+32%) or 100% of Kenanga’s full-year forecast.
This is thanks to better contribution from the medical supply unit and demand for generic drugs on higher delivery volume to government hospitals, and addition of new products in the Approved Products Purchase List (APPL) list.
“No dividend was declared which is within our expectation,” said Kenanga.
Year-on-year (YoY), its FY25 revenue rose 5% due to higher sales from its manufacturing operation (+11%), and from its medical supply unit (+9%) which more than offset its lower Indonesia operation (-5%).
Specifically, order volumes by government hospitals increased by 9% and the number of products under the APPL, has increased by more than 140 new products, bringing to a total of more than 830 products during the year.
This propelled FY25 core net profit, rising 32% to RM49 mil due to better operational efficiencies gains through on-going inventory optimisation efforts, cessation of non-core and non-performing businesses.
Quarter-on-quarter (QoQ), its 4QFY25 revenue fell 7% due to it being seasonally the weakest quarter as a result of reduced public sector purchases, likely influenced by year-end holidays. The lower revenue from medical supply unit (-11%) was mitigated by higher revenue contribution from the Indonesia operation (+3%). Its quarter four (4Q) FY25 core net profit rose slightly by 6% to RM7.7 mil due to a lower effective tax rate.
Budget 2026 saw the Ministry of Health’s allocation increased from RM45.3 bil to RM46.5 bil, with RM4.4 bil set aside for medical supplies (drugs and non-drugs) and RM2.1 bil for concession operations, compared to RM4 bil and RM2 bil, respectively in the previous year.
The biopharmaceutical segment recorded a full-year sales of RM13 mil in 2025, underpinned by strong demand for EuvaxB and SkyCellFlu. Looking ahead, the group expects this positive momentum to continue in 2026, supported by an increasing number of planned corporate vaccination programmes.
Specifically, development of the PCV13 and Hexavalent vaccines is progressing well, further reinforcing its biopharmaceutical capabilities and strengthening its long-term growth pipeline.
In the pharmaceutical segment, the group plans to introduce six major new products, further strengthening its portfolio and positioning Pharmaniaga to capture growing demand, particularly within the private healthcare market. —Feb 24, 2025
Main image: Pharmaniaga
