Market projected to be worth USD129 billion by 2025

KUALA LUMPUR, June 16 (Bernama) -- Duopharma Biotech Berhad (“Duopharma Biotech” or “the Company“) hosted the Third (3rd) Halal Pharmaceuticals Symposium 2022 on 15^th June 2022, as part of The Company’s continuing quest to spearhead efforts to capture the global halal pharmaceuticals market by facilitating the sharing of best practices, achievements and international collaborations to resolve challenges, advance global standards and jointly shape the industry.
 
Themed The Emergence of Global Best Practices for Halal Pharmaceuticals this year, the international symposium that has been organised by Duopharma Biotech since 2016 aims to reinforce the true meaning of halal pharmaceuticals as the Company works to ensure that the industry supply chains follow rigorous international halal standards to produce high-quality products at every stage of the value chain. In addition, the symposium gathers international experts, industry leaders and standards and regulatory agencies, including the Organization of Islamic Cooperation (“OIC“)’s Standards and Metrology Institute for Islamic Countries (“SMIIC“) to advance halal pharma’s integration into the global healthcare system.
 
“Duopharma Biotech has strived to establish strategic collaborations to meet the demands of the Malaysian, ASEAN and global markets. We will continue to take the necessary measures to grow the halal pharmaceutical industry in Malaysia and around the world and remain committed to our aspiration to produce safe, effective, quality and halal products for all consumers,” said Tan Sri Datin Paduka Siti Sa’diah Binti Sh Bakir, Chairman of Duopharma Biotech Berhad
 
According to the State of Global Islamic Economy 2022 Report¹, the halal pharmaceutical market which is based on Muslim’s spend on pharmaceuticals, increased by 6.5% in 2021, from USD93.5 billion to USD100 billion, and is expected to grow by a further 6.7% in 2022 to USD106 billion and reach USD129 billion in 2025 at a 4-year CAGR of 6.7%. Additionally, there is growing acceptance of the halal pharma industry within the mainstream pharmaceuticals industry which has driven further revenue growth in this sector.
 
 Joint Efforts to Elevate Halal Pharmaceuticals
 
“Another pivotal factor in the growth of the Halal pharma industry is the effort to steward knowledge management which relates to people and talent development. Continuous human capital and knowledge development are imperatives in the development of any industry. Technological advancement and innovation in products and increasingly agile services will continuously challenge halal standards and procedures to intentionally remain “in step and fit for purpose”. Collaboration with UKM on development of Professional Certificate Halal Pharmapreneur which is opened to all professional pharmacists who wish to develop their knowledge is encouraged,” added Tan Sri Siti Sa’diah.

Duopharma Biotech is a member of the Halal Development Corporation (“HDC”)’s Sectoral Working Group tasked with reviewing and monitoring the implementation of identified initiatives. In 2021, the HDC introduced a Sectoral Roadmap for Halal Pharmaceuticals to drive the industry’s growth. This complements the halal pharmaceutical industry’s series of regulated requirements, enhancing existing quality control, safety and efficacy standards, from drug development to procurement, and all the way to distribution.
 
Since 1999, Duopharma Biotech has pioneered a range of halal health supplements, including CHAMPS, Flavettes, Proviton and Naturalle, which were halal-certified by Jabatan Kemajuan Islam Malaysia (“JAKIM“)  in accordance with MS 1500:2009. The Company also complies with the Malaysian Standard on Halal Pharmaceuticals MS 2424:2019, which provides clear guidance on the requirements for producing halal pharmaceuticals. Duopharma Biotech Halal commitment is part of the Company’s sustainability journey.
 
For more information on the Halal Pharmaceuticals Symposium, please visit www.halal4pharma.com/hps2022
 
Selected images of the event can be found in the following link: https://we.tl/t-m88sR8MspH

ABOUT DUOPHARMA BIOTECH BERHAD
 
Duopharma Biotech Group (“Duopharma Biotech” or “the Company”) began with the establishment of Duopharma (M) Sendirian Berhad in 1978. Duopharma Biotech was incorporated in 2000 and is today one of Malaysia’s leading pharmaceutical companies listed on the Main Market of Bursa Malaysia Berhad.
 
Duopharma Biotech has core competencies in the pharmaceutical industry inclusive of Manufacturing, Research & Development and Commercialisation & Marketing of over 300 generic drugs such as Crystorvas, Prelica and Omesec as well as Consumer Healthcare (“CHC”) products including CHAMPS®, FLAVETTES®, PROVITON® and Uphamol, which are well-recognised and accepted by consumers in Malaysia, regionally and globally. The Company has also diversified into the biosimilars space with technology and commercialization collaborations with credible and strong international partners. ERYSAA®, Basalog One®, and Zuhera are a few commercialised biosimilar brands.
 
Headquartered in Kuala Lumpur, Malaysia, Duopharma Biotech owns and operates three manufacturing plants in Klang, Bangi and Glenmarie, Selangor. Duopharma Biotech also has subsidiary companies in the Philippines and Singapore. A subsidiary of Duopharma Biotech Berhad has a representative office in Jakarta, Indonesia.
 
Website: www.duopharmabiotech.com