KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) has purchased an 80 per cent ownership share in Symbiotica Specialty Ingredients Sdn Bhd, a company that manufactures active pharmaceutical ingredients (APIs).
This investment represents Ekuinas' third venture into the pharmaceutical industry.
Symbiotica caters to customers in Malaysia and over 70 other countries across six continents, with a significant presence in both Europe and Asia.
APIs are medicinal compounds found in pharmaceutical products, prescribed for treating various diseases and disorders, for use in both human and veterinary medicine.
"Based in Seberang Perai in Penang with manufacturing facilities in Kulim, Kedah, Symbiotica specialises in manufacturing corticosteroid and steroid hormone APIs, distinguishing itself as one of the few API manufacturers in SEA with expertise in this niche.
"Since its establishment in 2001, the company has consistently expanded its product range and grown its capabilities, possessing today a portfolio of over 70 API products," it said.
Ekuinas chief executive officer Datuk Syed Yasir Arafat said that the pharmaceutical sector plays a crucial role in the economy and has substantial potential for growth.
He added that the market size for corticosteroids, steroid hormones, and non-steroidal APIs reached US$36 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 6.7 per cent by 2027.
"APIs have been identified as a key growth segment for the pharmaceutical sector in the New Industrial Masterplan (NIMP) 2030.
"Having made progressive and consistent growth over the past two decades, and being a well-regulated and certified API supplier, Symbiotica as one of the largest API manufacturers in SEA is well-positioned to take advantage of the macro trends driving this sector's future growth," he said.
Symbiotica managing director Ajoy Prabhu said the partnership will significantly boost the company's growth by enhancing its manufacturing capacity and capabilities.
"Ekuinas brings added value to Symbiotica, from its experience in growing organisations.
"We look forward to synergising our positive attributes to leverage market opportunities internationally, regionally and domestically, strengthening our edge and leadership in the API segment," Ajoy said.