KUALA LUMPUR: Pharmaniaga Bhd's first biopharmaceutical plant in Puchong near here that produces human insulin, biosimilars and vaccines is expected to contribute up to 30 per cent of the group's revenue.
Executive director Zulkifli Jaafar said the plant was projected to generate RM400 million annually from insulin and vaccines alone.
"Based on our capabilities, we can produce more than 25 million syringes and 25 million cartridges.
"In terms of revenue, we are looking at approximately RM100 million from insulin and nearly RM300 million per annum from vaccines.
"So, with these two alone, we are contributing nearly RM400 million from a single facility," he said in a press conference during the plant's launch here today.
Present were Defence Minister Datuk Seri Mohamed Khaled Nordin and Deputy Science, Technology and Innovation Minister Datuk Mohammad Yusof Apdal.
Zulkifli added that the revenue increase would also automatically boost Pharmaniaga's earnings and margins within the Armed Forces Fund Board (LTAT).
LTAT is a major shareholder of Pharmaniaga through Boustead Holdings Bhd. On the regularisation of insulin and vaccines, Zulkifli said Pharmaniaga is awaiting approval from Bursa Malaysia for the regularisation plan (RP).
"We are targeting the approval of the RP either this month or, at the latest, next month. Once the RP is approved, we will need to complete the entire process, which takes about three to four months.
"Therefore, we are looking to finalise the regularisation process by February or the first quarter of next year," he said.
The biopharmaceutical facility is now undergoing simulation procedures to prepare for process validation batches, as well as obtaining approval from regulatory authorities.
Certified by the European Union Good Manufacturing Practice (EU GMP), the plant is capable of producing up to 30 million doses of human insulin annually, exceeding the country's current demand of approximately 25 million doses per year.