What’s NEXT!
CCM Duopharma Biotech Bhd is hoping to expand its presence in the premium market segment of pharmaceutical products in the local and overseas markets amidst challenging conditions.
CCMD is already planning a handful of product launches in the coming months, all targeted to the premium OTC (over-the-counter) segment of the pharmaceutical market.
Its future growth would come from the OTC segment.
At the moment, the bulk of CCMD’s earnings comes from Malaysia with only 10% from overseas. They have a presence in 26 countries and are working to expand its footprint. They have already put in applications to market some of its products there but the approval process takes time.
CCMD was also looking to tap into the blossoming private medical sector as another area of growth.
CCMD also has in its bag a few contracts from the government, most notably for the supply of methadone and drugs for the treatment of HIV.
Financial Results …
Rising raw material costs had put pressure on margins as indicated by CCMD’s first quarter results where it saw its net profit fall year-on-year to RM7.3 million from RM7.9 million.
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