Duopharma Subsidiary Secures RM155.3 Mln MOH Insulin Supply Contract
KUALA LUMPUR, June 9 (Bernama) -- Duopharma Biotech Bhd's wholly-owned subsidiary, Duopharma (M) Sdn Bhd (DMSB), has secured a RM155.28 million contract from the Ministry of Health (MOH) to supply recombinant human insulin products and reusable insulin pens to government healthcare facilities.
In a filing with Bursa Malaysia today, the pharmaceutical company said DMSB had received and accepted a letter of award (LOA) from the government for the three-year contract, which commenced on June 3, 2026 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 MOH 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.
Under the contract, DMSB is required to provide an irrevocable performance bond of RM2.59 million within 30 days of accepting the LOA, Duopharma said.
On risk factors, the company said these 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