Pharmaniaga's Q3 net profit widens to RM49.83 mln

KUALA LUMPUR, Nov 19  -- Pharmaniaga Bhd’s net profit for the third quarter (Q3) ended Sept 30, 2021 (Q3 FY2021) widened to RM49.83 million from RM1.44 million registered in the same quarter a year ago.

Revenue for the quarter jumped to RM2.13 billion from RM624.80 million, attributed to the positive growth across the group's concession, non-concession and Indonesian businesses, it said in a filing with Bursa Malaysia.

The non-concession business was a key driver due to sales of the Sinovac COVID-19 vaccine to the Ministry of Health (MOH) as well as the private sector.

This saw the group successfully complete the delivery of 20.4 million doses to MOH to date, while almost two million doses have been delivered to the private sector.

Pharmaniaga contributed 20.4 million doses of the Sinovac COVID-19 vaccine to the National COVID-19 Immunisation Programme (NIP) and two million doses to the private market covering almost 40 per cent of the Malaysian adult population.

On Nov 17, 2021, the Drug Control Authority has given conditional approval for Sinovac as a booster shot, and with about 11 million Sinovac recipients in the country, the group is prepared to supply 10 million doses of booster shot to MOH and the private market. 

As for the concession of the logistics and distribution business, the group will continue to carry out its duties and responsibilities as MOH’s logistic partner until Nov 30, 2024.

“Thus, we are optimistic that MOH will continue to choose Pharmaniaga as its partner to manage the logistics and distribution of pharmaceutical products to its almost 2,000 facilities nationwide,”  Pharmaniaga said.

With various ongoing efforts, strategies and initiatives, as well as encouraging signs of economic recovery in Malaysia and globally, Pharmaniaga opined that it is on the right footing and direction for better results in the coming quarters.

Meanwhile, in a separate announcement, the company has declared a third interim dividend of 2 sen per share with ex date on Dec 6, 2021, entitlement date on Dec 7 and payable on Dec 29, 2021.

-- BERNAMA