Duopharma top management to stay

theedgedaily.com: "Chemical Company Malaysia Bhd (CCM), which has made a mandatory general offer for Duopharma Biotech Bhd, has given an assurance that it did not expect any immediate changes in the latter’s top management upon the acquisition.
CCM group managing director Dr Mohd Hashim Tajudin said Duopharma’s listing status would also be maintained.
“We want to be leader in the businesses we are in -- fertiliser, chemical and pharmaceutical. With the acquisition of Duopharma, we are in line in becoming a leader in pharmaceutical businesses,” he told reporters after the AGM in Kuala Lumpur on Aug 26.
Hashim said Duopharma expected to finalise a two-year contract with the Health Ministry to supply methadone, a drug used to treat drug addicts, in October.
CCM was also eyeing to acquire more pharmaceutical firms in Asean, he said. However, he did not elaborate.
On the new pharmaceutical plant in Bangi, he said it would start operations by year-end. He expected the pharmaceutical business, which had better growth prospects, to contribute 40% to its earnings in the next three to five years."