Pharmaniaga to bank on new products

Star: KUALA LUMPUR: Pharmaniaga Bhd is banking on the introduction of new products and the streamlining of its core business to boost revenue next year.
Chairman Datuk Mohamed Azman Yahya said the integrated healthcare solutions provider would also continue to reduce its dependence on Government's procurement for growth.
“Our focus next year will be on growing the three core businesses: logistics, medical equipment and services, and pharmaceuticals. We are looking at double-digit growth from our overseas operations, particularly Indonesia.
“Domestically, our growth will be in line with the overall industry growth of 8% to 10%,” he said after the launch of the Clinisys clinic management system by Deputy Health Minister Datuk Dr Abdul Latiff Ahmad here yesterday.
Besides Indonesia, Pharmaniaga markets its products to 16 other countries, including China, Brunei, Singapore, Papua New Guinea, Hong Kong and Iraq.
Overseas sales contributed about 24% to its total revenue in the first quarter of this year.
Managing director Azhar Hussain said Pharmaniaga's dependence on Government's procurement was as high as 95% of total revenue a few years ago.
He said the figure dropped to about “60% to 65% last year” and was expected to drop further as the company's operation locally and overseas expanded.
He said Pharmaniaga planned to launch 80 new products over the next five years.
Pharmaniaga holds a 15-year concession (ending 2009) to supply drugs to government hospitals, with an option for the authorities to extend the concession by another 15 years.
Commenting on Clinisys, Azman said the software would be made available to all its customers free-of-charge.
“Clinisys will help increase efficiency and productivity in clinics and enhance patients' experience,” he said, adding that about 100 clinics had adopted the system since its introduction in May.