recorded a net profit of RM49.84mil in the third quarter ended Sept 30, 2021, as compared to just RM1.44mil in the previous corresponding quarter following a jump in group revenue, driven by sales of the Sinovac Covid-19 vaccine.The pharmaceuticals group reported earnings per share of 3.81 sen compared to 0.11 sen in 3QFY20.
It declared a third interim dividend of two sen per share, which brought year-to-date payout to 4.3 sen per share.
The dividend goes ex on Dec 6, 2021, and is payable on Dec 29, 2021.
Pharmaniaga's group revenue came to RM2.13bil, which was more than three times RM624.8mil posted in the year-ago quarter, underpinned by positive growth across its concession, non-concession and Indonesian businesses.
Non-concession sales were mainly driven by the Sinovac Covid-19 vaccine, of which 20.4 million doses were delivered to the Health Ministry and two million delivered to the private sector.
Moving forward, Pharmaniaga is prepared to supply 10 million doses of Sinovac booster shots to the Health Ministry and private market.
According to Pharmaniaga, The booster shot was approved by the Drug Control Authority on Nov 17, 2021 for about 11 million Sinovac vaccine recipients in the country.
Further to the development of the Sinovac vaccine, Pharmaniaga is involved in the Sinovac Global Clinical Trial for children aged 3-11 years.
It said the study to evaluate efficacy and safety in young children has started in November and the interim efficacy results are expected to be ready in early 2022.
In its other operations, the group is setting up an insulin manufacturing plant to treat non-communicable diseases, complementing its market presence in the cardiovascular and basic diabetic range.
The manufacturing facility will produce pre-filled insulin cartridges in the form of self-administered ‘Pens’, and
expected to be ready in 2025.
As for the concession of logistics and distribution business, the group will continue to carry out its duties and responsibilities as the Health Ministry's logistics partner until Nov 30, 2024.
"A series of discussions and negotiations for the renewal of the concession has been carried out and the outcome is very
positive," said the group
In Indonesia, plans are underway to remodel the business operations, particularly PT Millennium Pharmacon International Tbk in order to remain competitive and gain better profitability.