PHARMANIAGA Bhd has expanded its presence in the international market by partnering with Prime Healthcare Group, one of the United Arab Emirates’ (UAE) leading healthcare service providers.
Pharmaniaga’s wholly-owned subsidiary Pharmaniaga Manufacturing Bhd (PMB) and Prime Medical Store LLC (Prime Medical), a subsidiary of Prime Healthcare Group signed a memorandum of understanding (MoU) on March 30, 2022.
The MOU will lay the groundwork for Prime Medical to have the sole right to register, import, promote, market, sell, and distribute PMB’s pharmaceutical goods in the UAE.
Prime Healthcare Group operates 15 medical centres, 15 Medprime pharmacies, various diagnostic centres and a multispecialty hospital with over 400 physicians and 1,500 supporting professionals that provide advanced medical treatment to UAE citizens and residents.
“PMB is a well-established pharmaceutical plant in Malaysia, and with the country being a member of the globally recognised Pharmaceutical Inspection Co-operation Scheme (PIC/S), our plant operations comply with its strict Good Manufacturing Practice and quality standards,” Pharmaniaga group managing director Datuk Zulkarnain Md Eusope pointed out.
“PMB is also certified as a halal manufacturing plant by the Department of Islamic Development Malaysia (JAKIM). The plant manufactures more than 120 pharmaceutical products with more than 95 of them have been certified halal by JAKIM while the balance is in the pipeline to obtain the certification.”
The halal status will enable Pharmaniaga offer the best of both worlds – international standards and halal pharmaceutical products – that will cater to the needs of all consumers, particularly Muslims.
“With the halal pharmaceutical market set to grow to US$205 bil by 2024, we believe the partnership with Prime Healthcare Group will help to widen our market reach further and contribute significantly to the revenue,” envisages Zulkarnain. “Dubai will be our base to bring our products to other countries in the Middle East, Africa and even Europe.”
Meanwhile, Pharmaniaga chairman Datuk Seri Zainal Abidin Mohd Rafique said Pharmaniaga is ready to push its products internationally.
“Hence, this collaboration is a momentous event for the company and an opportunity to leverage on each other’s capabilities and strengths,” he noted.
“We are confident that this partnership will result in a more robust ecosystem for both companies as Prime Healthcare Group is among the reputable pharmaceutical service providers with a highly-skilled workforce and technological expertise in UAE’s local healthcare industry.”
Pharmaniaga is the leading pharmaceutical firm of Boustead Holdings Bhd group of companies which counts Lembaga Tabung Angkatan Tentera as the latter’s major shareholder. – March 31, 2022
