Thursday 20 Jun 2024
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KUALA LUMPUR (July 26): Pharmaniaga Bhd’s unit, Pharmaniaga LifeScience Sdn Bhd, has signed a memorandum of understanding (MOU) with CSPC Pharmaceutical Group Ltd (CSPC) subsidiary — CSPC Holdings Co Ltd — to enhance the production of CSPC’s biopharmaceutical portfolio.

In a press release on Wednesday (July 26), Pharmaniaga said that the partnership agreement is premised on the research, development, manufacturing and commercialisation of innovative pharmaceutical and biopharmaceutical products, as well as focusing on CSPC’s advanced mRNA vaccines, leading towards the commercialisation of these products in Malaysia and other relevant territories.

Pharmaniaga's research and development team views CSPC's mRNA technology platform as having significant potential, especially in the development of vaccines for diseases like the flu, respiratory syncytial virus, zoster, Human papillomavirus virus (HPV) and dengue.

“This collaboration holds the promise of propelling Malaysia towards becoming a vaccine-producing country within the Asean region,” Malaysian Investment Development Authority (Mida) chief executive officer Datuk Wira Arham Abdul Rahman said.

He further added that the MOU aligns with the strategic objectives of the National Investment Aspirations (NIA), New Industrial Master Plan (NIMP), and National Vaccine Development Roadmap (NVDR) blueprint in fostering the production of pharmaceutical and biopharmaceutical products to achieve national self-sufficiency and reducing dependency on the importation of these products.

"We are exploring to leverage on CSPC’s mRNA technology platform for vaccine development and CSPC is a proven and reliable partner in this endeavour.

"The MOU strengthens the pre-existing relationship between Pharmaniaga and CSPC. Pharmaniaga currently acquires the Active Pharmaceutical Ingredient (API) for Azithromycin Dihydrate (antibiotics used to treat various bacterial infections) from CSPC Holdings,” said Pharmaniaga executive committee chairman Ahmad Shahredzuan Mohd Shariff.

Pharmaniaga said that its collaborative interests with CSPC go beyond vaccines, venturing into various pharmaceutical products within the realm of anti-infective, cardiovascular, neurology, gastroenterology, immunology and pulmonary treatments.

The alliance also includes the collection of market data to assess the commercial viability of CSPC's innovative pharmaceutical products in key therapeutic sectors such as anti-tumour, cardiovascular and neurology.

At the time of writing (11.32am), shares of Pharmaniaga crept up half a sen or 1.23% to 41 sen, valuing the group at RM537.19 million.

Edited ByIsabelle Francis
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