Duopharma (M) Sdn Bhd (DMSB) has secured a RM155.28 million contract from the Health Ministry to supply recombinant human insulin products and reusable insulin pens to government healthcare facilities.

DMSB is a wholly owned subsidiary of Duopharma Biotech Bhd, a publicly listed company with its controlling shareholder being government-linked investment fund Permodalan Nasional Bhd (PNB).

In a filing with Bursa Malaysia today, DMSB said it had received and accepted a letter of award (LOA) from the government for the three-year contract, which commenced on June 3 and will expire on June 2, 2029.

“The contract is in the ordinary course of business of the Duopharma Biotech group of companies and will enable DMSB to supply the products to Health Ministry facilities.

“With an estimated 4.75 million diabetics in Malaysia, of whom about 450,000 patients are treated with recombinant human insulin in government hospitals and clinics, DMSB hopes to improve diabetes management in the country by providing high-quality and cost-effective biosimilar insulins,” it said.

It added that, under the contract, the company is required to provide an irrevocable performance bond of RM2.59 million within 30 days of accepting the LOA.

The company also said that risk factors include execution risks related to storage, transportation and delivery logistics, changes in the economic, political, and regulatory environment, as well as operational risks such as shortages of raw materials and skilled labour.

It added that none of the company’s directors, major shareholders, or persons connected to them has any direct or indirect interest in the contract.

- Bernama

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