Duopharma lands RM9.5 million HIV/AIDS drug contract

The Edgedaily: Chemical Company of Malaysia Bhd’s (CCM) newly acquired 73.8%-owned subsidiary, Duopharma Biotech Bhd, has been awarded a RM9.5 million contract by the Health Ministry to supply anti-retroviral drugs SLN30 and SLN40 tablets, to treat HIV/AIDS patients, to all government hospitals for two years starting 2006.
Duopharma is the only company approved by the ministry to produce the World Health Organisation-recommended 3-in-1 fixed dose combination (FDC) products, which will be available in Malaysia.
An announcement from CCM on Nov 25 confirmed a FinancialDaily article on Sept 6, which stated that Duopharma’s proposal to manufacture the FDC had received the greean light from the government and that the company would be receiving a formal award soon.
Duopharma’s 2004 annual report had the number of HIV/AIDS patients in the country at about 60,000 at the time with almost 20 new cases being reported daily.
The report also added that fully subsidised FDC would cost the government between RM15 million and RM26 million annually or 20% of existing treatment costs and allow the government to treat more patients.
Meanwhile, Duopharma said it has also been awarded a RM1.6 million contract from the ministry in October to supply methadone to 10 government hospitals and seven private clinics under a six-month pilot study to test the feasibility of using the drug to treat drug addicts.
The company, which recently appointed two new members to its board – Dr Mohd Hashim Tajudin and Datuk Mizanur Rahman Ghani – also released its third quarter results ended Sept 30, 2005, and attributed the rise in earnings to increased sales to both the public and private sectors.
It posted a net profit of RM5.96 million, up 11.34% from RM5.35 million in the corresponding quarter last year. Revenue was also up 22.53% to RM22.71 million from RM18.53 million, while earnings per share rose to 4.44 sen from 4.06 sen.