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Top Glove: To acquire Aspion



KUALA LUMPUR: Top Glove Corp Bhd
is set to become the world’s largest manufacturer of surgical gloves after its shareholders approved its purchase of Aspion Sdn Bhd for RM1.37bil in cash and shares.
Top Glove executive chairman Tan Sri Dr Lim Wee Chai said the company received shareholders’ approval to purchase Aspion – the group’s largest merger and acquisition (M&A) exercise yet – at an EGM yesterday.
He said the move would enable it to move into the final phase of the acquisition process.
“This acquisition would further enable us to deliver innovative surgical glove products for our global customers as well as create significant value for our shareholders,” he said.
image: https://content.aimatch.com/default.gif
image: https://content.thestar.com.my/smg/settag/name=lotame/tags=Eve_Business_Audience,Eve_Prog_Business,tsol,Fatin_GSC_Insight_ALL,all,Eve_Affluent_Audience,Eve_Investors
Of the total RM1.37bil purchase consideration, RM1.233bil will be in cash and the balance via the issuance of 20,505,000 new Top Glove shares.
Lim pointed out that the purchase of Aspion was its largest M&A exercise yet, but this was only the beginning.
“Top Glove is only 27 years old this year and as a young company, we are still on expansion mode.
“We look forward to successfully carrying out more such exercises in order to grow and solidify our leadership position in both the glove and healthcare industry,” he said.
The shareholders’ approval for the company, which is the world’s largest manufacturer of gloves, was to become the world’s largest surgical glove maker as well.
To recap, in January this year, Top Glove had entered into a share purchase agreement with Adventa
Capital to acquire Aspion for RM1.37bil in cash and shares.
It said the proposed acquisition was well-aligned with Top Glove’s strategy to effectively and sustainably grow its business inorganically, in tandem with its organic expansion.
Upon completion, Top Glove would be well-positioned to serve its enlarged customer base more effectively, with an enhanced range of high-quality and cost-effective medical gloves across multiple categories, including surgical gloves, examination gloves as well as other market-leading innovative glove products.
Top Glove will fortify its market leadership position by leveraging on Aspion’s technologies and innovations, as it continues to focus on research and development initiatives.

Read more at https://www.thestar.com.my/business/business-news/2018/03/09/top-glove-shareholders-approve-aspion-acquisition/#3YbropcOXqqCK3GC.99
KUALA LUMPUR: Top Glove Corp Bhd
is set to become the world’s largest manufacturer of surgical gloves after its shareholders approved its purchase of Aspion Sdn Bhd for RM1.37bil in cash and shares.
Top Glove executive chairman Tan Sri Dr Lim Wee Chai said the company received shareholders’ approval to purchase Aspion – the group’s largest merger and acquisition (M&A) exercise yet – at an EGM yesterday.
He said the move would enable it to move into the final phase of the acquisition process.
“This acquisition would further enable us to deliver innovative surgical glove products for our global customers as well as create significant value for our shareholders,” he said.
image: https://content.aimatch.com/default.gif
image: https://content.thestar.com.my/smg/settag/name=lotame/tags=Eve_Business_Audience,Eve_Prog_Business,tsol,Fatin_GSC_Insight_ALL,all,Eve_Affluent_Audience,Eve_Investors
Of the total RM1.37bil purchase consideration, RM1.233bil will be in cash and the balance via the issuance of 20,505,000 new Top Glove shares.
Lim pointed out that the purchase of Aspion was its largest M&A exercise yet, but this was only the beginning.
“Top Glove is only 27 years old this year and as a young company, we are still on expansion mode.
“We look forward to successfully carrying out more such exercises in order to grow and solidify our leadership position in both the glove and healthcare industry,” he said.
The shareholders’ approval for the company, which is the world’s largest manufacturer of gloves, was to become the world’s largest surgical glove maker as well.
To recap, in January this year, Top Glove had entered into a share purchase agreement with Adventa
Capital to acquire Aspion for RM1.37bil in cash and shares.
It said the proposed acquisition was well-aligned with Top Glove’s strategy to effectively and sustainably grow its business inorganically, in tandem with its organic expansion.
Upon completion, Top Glove would be well-positioned to serve its enlarged customer base more effectively, with an enhanced range of high-quality and cost-effective medical gloves across multiple categories, including surgical gloves, examination gloves as well as other market-leading innovative glove products.
Top Glove will fortify its market leadership position by leveraging on Aspion’s technologies and innovations, as it continues to focus on research and development initiatives.

Read more at https://www.thestar.com.my/business/business-news/2018/03/09/top-glove-shareholders-approve-aspion-acquisition/#3YbropcOXqqCK3GC.99
KUALA LUMPUR: Top Glove Corp Bhd
is set to become the world’s largest manufacturer of surgical gloves after its shareholders approved its purchase of Aspion Sdn Bhd for RM1.37bil in cash and shares.
Top Glove executive chairman Tan Sri Dr Lim Wee Chai said the company received shareholders’ approval to purchase Aspion – the group’s largest merger and acquisition (M&A) exercise yet – at an EGM yesterday.
He said the move would enable it to move into the final phase of the acquisition process.
“This acquisition would further enable us to deliver innovative surgical glove products for our global customers as well as create significant value for our shareholders,” he said.
image: https://content.aimatch.com/default.gif
image: https://content.thestar.com.my/smg/settag/name=lotame/tags=Eve_Business_Audience,Eve_Prog_Business,tsol,Fatin_GSC_Insight_ALL,all,Eve_Affluent_Audience,Eve_Investors
Of the total RM1.37bil purchase consideration, RM1.233bil will be in cash and the balance via the issuance of 20,505,000 new Top Glove shares.
Lim pointed out that the purchase of Aspion was its largest M&A exercise yet, but this was only the beginning.
“Top Glove is only 27 years old this year and as a young company, we are still on expansion mode.
“We look forward to successfully carrying out more such exercises in order to grow and solidify our leadership position in both the glove and healthcare industry,” he said.
The shareholders’ approval for the company, which is the world’s largest manufacturer of gloves, was to become the world’s largest surgical glove maker as well.
To recap, in January this year, Top Glove had entered into a share purchase agreement with Adventa
Capital to acquire Aspion for RM1.37bil in cash and shares.
It said the proposed acquisition was well-aligned with Top Glove’s strategy to effectively and sustainably grow its business inorganically, in tandem with its organic expansion.
Upon completion, Top Glove would be well-positioned to serve its enlarged customer base more effectively, with an enhanced range of high-quality and cost-effective medical gloves across multiple categories, including surgical gloves, examination gloves as well as other market-leading innovative glove products.
Top Glove will fortify its market leadership position by leveraging on Aspion’s technologies and innovations, as it continues to focus on research and development initiatives.

Read more at https://www.thestar.com.my/business/business-news/2018/03/09/top-glove-shareholders-approve-aspion-acquisition/#3YbropcOXqqCK3GC.99
Top Glove Corp Bhd is set to become the world’s largest manufacturer of surgical gloves after its shareholders approved its purchase of Aspion Sdn Bhd for RM 1.37 bil in cash and shares.

Top Glove Executive Chairman Tan Sri Dr Lim Wee Chai said the company received shareholders’ approval to purchase Aspion – the group’s largest merger and acquisition (M&A) exercise yet – at an EGM yesterday. He said the move would enable it to move into the final phase of the acquisition process.

“This acquisition would further enable us to deliver innovative surgical glove products for our global customers as well as create significant value for our shareholders,” he said.

Of the total RM 1.37 bil purchase consideration, RM 1.233 bil will be in cash and the balance via the issuance of 20,505,000 new Top Glove shares.

Lim pointed out that the purchase of Aspion was its largest M&A exercise yet, but this was only the beginning. “Top Glove is only 27 years old this year and as a young company, we are still on expansion mode.

“We look forward to successfully carrying out more such exercises in order to grow and solidify our leadership position in both the glove and healthcare industry,” he said. The shareholders’ approval for the company, which is the world’s largest manufacturer of gloves, was to become the world’s largest surgical glove maker as well.

To recap, in January 2018, Top Glove had entered into a share purchase agreement with Adventa
Capital to acquire Aspion for RM 1.37 bil in cash and shares. It said the proposed acquisition was well-aligned with Top Glove’s strategy to effectively and sustainably grow its business inorganically, in tandem with its organic expansion.

Upon completion, Top Glove would be well-positioned to serve its enlarged customer base more effectively, with an enhanced range of high-quality and cost-effective medical gloves across multiple categories, including surgical gloves, examination gloves as well as other market-leading innovative glove products.

Top Glove will fortify its market leadership position by leveraging on Aspion’s technologies and innovations, as it continues to focus on research and development initiatives.

/theSTAR 09-03-2018

Disclaimer: Views or opinions expressed are solely those of the Author and should be used with discretion. The Author shall not be held liable for any acts or omissions arising from the use of the information. The user will be personally liable for any damages or other liability arising hereof.


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CPTPP signed by 11 Countries





Trade Ministers from 11 Pacific Rim countries signed a sweeping free trade agreement on Thursday, 8th March 2018, to streamline trade and slash tariffs just hours before President Donald Trump announced his plans to impose new tariffs on aluminum and steel to protect U.S. producers.
The US withdrew from the Trans-Pacific Partnership (TPP) last year, causing fears that it would not prosper without its most influential country. But the remaining 11 members pressed ahead, saying they were showing resolve against protectionism through global trade.The Ministers dropped key provisions that the US had required on protection of intellectual property, among others. The renegotiated pact signed in Chile’s capital was also renamed the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP).
“Despite the diverse and difficult challenges, the CPTPP is a historic achievement that creates free and fair 21st century rules in the Asia-Pacific region,” Japanese Economy Minister Toshimitsu Motegi said at a news conference after the signing.
The CPTPP that covers 500 million people includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, which together account for 13 percent of the global economy. Its success highlights the isolation of the U.S. under Trump’s protectionist rhetoric on trade and his “America first” philosophy.
“It leaves the US at a disadvantage from both a trade and a broader strategic perspective,” said Joshua Meltzer, senior fellow in the global economy and development program at the Brookings Institution. “It is now a trade bloc that discriminates against the U.S.” Meltzer said the United States’ ability to shape the rules of trade in the Asia-Pacific region “is very much diminished.”
The US, originally the biggest TPP economy, was one of the trade deal’s strongest supporters before Trump took office. Trump has said he prefers country-to-country deals and is seeking to renegotiate several major trade agreements, including the North American Free Trade Agreement that includes the US, Mexico and Canada.
This is “a strong sign against the protectionist pressures, and in favor of a world open to free trade, without unilateral sanctions and the threat of trade wars,” Chilean Foreign Minister Heraldo Munoz said.
The EU threat and Trump’s impending announcement on the tariffs were expected to escalate the risk of a trade war, in which nations try to punish each other by hiking taxes on traded goods. Experts say that tends to harm both exporting nations as well as importing countries’ consumers, who face higher costs. The EU considers itself to be caught in the crossfire of a trade dispute, in which Trump has mainly singled out China for being unfair in its commercial deals.
The original TPP was conceived by the U.S. as a counterweight to China’s growing economic influence through a robust trading bloc that excluded the Asian giant. The thinking was that China would have an incentive to open its market and liberalize its policies in an effort to eventually qualify for TPP membership.
/Time 08-03-2018

Disclaimer: Views or opinions expressed are solely those of the Author and should be used with discretion. The Author shall not be held liable for any acts or omissions arising from the use of the information. The user will be personally liable for any damages or other liability arising hereof.


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Compulsory Licence supported by WHO



Malaysia’s bold move to impose compulsory licence (CL) on the drug sofosbuvir has been heavily criticised by big pharmaceutical companies, but has the support of the World Health Organisation (WHO).
WHO advocates universal health coverage and that means access to life-saving treatment, said its head of mission and representative to Malaysia, Brunei and Singapore Dr Lo Ying-Ru.
She said Malaysia, in wanting to provide universal health coverage with limited funding, had decided to make sofosbuvir available for its healthcare systems.
Asked how WHO views the pressures Malaysia is facing after issuing a CL for the generic version of sofosbuvir, Dr Lo said: “I understand the Malaysian Government is adhering to the World Trade Organisation’s TRIPs (Trade-Related Aspects of Intellectual Property Rights) agreement.
There are about 400,000 Malaysians who are infected by Hepatitis C. However, only a fraction could afford the medication which may cost up to RM300,000 for the full course of treatment.
Malaysia is not given special pricing for the drugs by pharmaceutical companies because it is considered a middle-income country.
NGOs had lobbied the Government to issue a CL so patients could gain access to the medication.
In September 2017, the Domestic Trade, Cooperatives and Consumerism Ministry confirmed the Cabinet had issued government-use licences to enable the import of generic versions of sofosbuvir.
Since then, big pharmaceutical companies had been pressuring Malaysia to retract its position, as it discourages innovation. They claimed Malaysia risked being put on the US Watch List on IP-related trade barriers.
Recently, the Pharmaceutical Research and Manufacturers of America (PhRMA) urged the US Trade Representative (USTR) to take action “to address serious market access and intellectual property barriers” in 19 overseas markets.
It urged the Office of the USTR and other federal agencies to reverse the CL in Malaysia and end “discriminatory pricing policies” in Canada, Japan and South Korea.
However, US-based NGO Public Citizen defended the countries using CL, saying that issuing the licence does not override a patent right.
“Rather, the right reserved by the Government to make use of an invention is embedded in the initial grant of every patent,” it said.
Public Citizen also pointed out that the patent owner could still sell the medicine, and retain the exclusive right to sell to private providers and hospitals.
“The US should not criticise Malaysia for its TRIPs-compliant public health policy,” it said.
It defended Malaysia’s stand as the Hepatitis C disease burden was high and projected to rise steeply owing to limited antiviral treatment and the high cost of sofosbuvir.
The treatment price of around RM 300,000 is beyond the reach of many Malaysians.
Health director-general Datuk Seri Dr Noor Hisham Abdullah said the Government did not violate any laws or agreements when issuing the CL. “We go by the book,” he said.

/theSTAR 02-03-2018
 

Disclaimer: Views or opinions expressed are solely those of the Author and should be used with discretion. The Author shall not be held liable for any acts or omissions arising from the use of the information. The user will be personally liable for any damages or other liability arising hereof.


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Compulsory Licence - Hepatitis C



Two months after Malaysia received world recognition for taking steps to provide affordable medicine for Hepatitis C sufferers, it is learnt that 18 state hospitals are ready to roll out the treatment, with up to 400,000 patients likely to benefit.
This access to the affordable medicine comes after the Government issued a compulsory licence (CL) to import or produce the generic versions of sofosbuvir – one of the drug combinations used for Hepatitis C treatment.
The combination of sofosbuvir and daclatasvir is now available in all government state hospitals.
It used to cost RM300,000 for a full course treatment. With the Government initiative, it now costs around RM1,000.
Malaysia is the first country in the world to invoke CL for importing or producing the generic version of sofosbuvir.
Malaysia received the Leadership Award in Intellectual Property and Access to Medicines for being the first to do so in January 2018A source from the company appointed to import sofosbuvir through CL, Pharmaniaga Marketing Sdn Bhd, said the generic version of the drug was delivered to the Health Ministry last week while daclatasvir had been sent earlier.
Drugs for Neglected Diseases initiative (DNDi) South-East Asia regional office head Jean-Michel Piedagnel said Malaysia was leading the world in Hepatitis C treatment access.
DNDi is an international non-profit drug research and development organisation.
“We need more of such leadership to tackle the disease,” said Piedagnel.
The contagious liver disease results from infection with the Hepatitis C virus and spreads through contact with the blood of an infected person.

/theSTAR/02-03-2018
Disclaimer: Views or opinions expressed are solely those of the Author and should be used with discretion. The Author shall not be held liable for any acts or omissions arising from the use of the information. The user will be personally liable for any damages or other liability arising hereof.


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Rare Disease & Orphan drugs in Malaysia



World Rare Disease Day (WRDD) was celebrated on 28 February 2018. An annual commemoration initiated by the European Organisation for Rare Diseases, WRDD was celebrated for the first time on Feb 29, 2008.
More than 70 countries, including Malaysia, celebrate WRDD on the last day of February to raise awareness among the general public and decision makers about rare diseases and their impact on the lives of patients.
Rare disease is a group of diseases characterised by low prevalence and are chronically debilitating and life-threatening. The World Health Organization defines rare disease as “any disease that has prevalence of between 0.65 and 1% of the population, and the diagnosis and treatment are complicated”.
Unfortunately, rare disease often suffers from severe disproportion of treatments, resources as well as expertise compared to other diseases in the healthcare system.
A major challenge in treating the disease is making treatment accessible to the patients.
It was found that only about 60% of rare disease patients in Malaysia are receiving treatment. For those who are not, it could be because no treatment is available yet in Malaysia for their condition, they are still in the waiting list or they are not able to initiate treatment yet.
Most rare disease patients only need supplements or simple medications which are readily available. However, there are also some conditions that need very rare medication (generally called orphan drug), for example lysosomal disorders such as mucopolysaccharidoses.
There are several factors contributing to this situation. Firstly, there is a lack of formal definition for rare disease in Malaysia, and this complicates effective monitoring and regulation of its management. Thus there is no epidemiology study or registry available to use as baseline data for further action.
Secondly, there is a lack of experienced doctors and diagnostic equipment. Most of them are concentrated in Kuala Lumpur and there are very few in visiting hospitals.
Finally, lack of drugs required, especially orphan drugs which can cost a patient more than one million ringgit per year.
As resources are limited, some of the patients have been waiting for two to three years to receive treatment.
The Govern­ment has taken the welfare of rare disease patients seriously. A fund of more than RM10 mil has been allocated under Budget 2018 to treat rare disease with orphan drugs at the Hospital Kuala Lumpur’s genetic clinic.
This amount is still far from enough for all patients but it is a good start for both the genetic clinic and patients.
There is also a growing number of patient advocacy groups championing the rare disease issues. Over the last 10 years, rare disease advocates like Malaysian Rare Disorders Society, Malaysia Lysosomal Diseases Association Spinal Muscular Atrophy Malaysia, We Care Journey and Malaysia Metabolic Society have been actively fighting for the welfare of rare disease patients. They hold awareness campaigns in the community and through the print, electronic and social media.
They also produce information booklets, organise charity fund-raising activities and attend international conferences on rare disease. Pharmaceutical companies, other NGOs and generous individuals are also supporting the rare disease programmes.
The journey ahead is still long in ensuring that rare disease patients have access to healthcare. However, the impetus must come from policymakers and all healthcare providers and not just from those who are directly involved in managing rare disease.
/the STAR 01-03-2018


Disclaimer: Views or opinions expressed are solely those of the Author and should be used with discretion. The Author shall not be held liable for any acts or omissions arising from the use of the information. The user will be personally liable for any damages or other liability arising hereof.


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TPP targetted to be signed in March 2018



Malaysia has welcomed a breakthrough among trade negotiators of the remaining 11 countries of the Trans-Pacific Partnership in Tokyo, clearing the way for a revised agreement to be signed in early March 2018
International Trade and Industry Minister Datuk Seri Mustapa Moha­med said the free trade agreement, now known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), is a high-quality agreement with a combined GDP worth US$11 trillion (RM42.9 trillion), covering a 476 million population and a 15% share of global trade volume.
“The signing of this agreement will be a significant boost to global trade and open doors for Malay­sian companies to expand their presence in the overseas market."
“We expect additional jobs to be created as a result of further investments that will come due to the improved trading and investing environment under the CPTPP. We are satisfied with the outcome of this meeting and our negotiators have once again successfully defended Malaysia’s interests,” Mus­­­ta­pa said in a statement.
The signing of the deal will be done without the United States, which has abandoned it under President Donald Trump.
The CPTPP involves Australia, Bru­­nei, Canada, Chile, Japan, Malay­sia, Mexico, New Zealand, Peru, Singapore and Vietnam.
The agreement will incorporate all commitments from the original TPP, except for a limited number of provisions suspended temporarily and some remaining issues to be finalised.
Mustapa listed four issues, including Malaysia’s request for additional flexibility for the oil and gas sector under state-owned enterprises chapter, which were resolved.
“Malaysia’s request for additional flexibility to conduct preferential purchases for the upstream oil and gas sector will now commence on the date of entry instead of the date of signing."
“The other issues (involving other countries) are market access for the coal industry, trade sanctions related to dispute settlement and exception to cultural industries."
“Before the Tokyo meeting, there were 20 provisions that will be suspended under the CPTPP."
“The suspension would mean that these provisions will not be implemented until all CPTPP mem­ber countries agree to lift this suspension.
“The Tokyo meeting has agreed to add two more suspensions into the list – making it a total of 22 suspensions. One of them was on the additional flexibility for Malaysia in the oil and gas sector, after the relentless pursuit and consistent fight put forth by our negotiating team on this matter. The other one was on market access for Brunei’s coal industry,” the statement added.
According to Japanese media reports, nearly two-dozen stipulations sought by the US in the original TPP deal were shelved after Washington withdrew.

Some members sought easier terms on labour rights and state-owned companies, but it’s unclear how far the changes will go in watering down what was proclaimed by the Obama administration to be a “gold standard” for 21st century trade rules.
Japan’s top trade negotiator, Toshimitsu Motegi, said he hoped to expand the membership of the TPP and encourage a US return to the pact.
/theSTAR 25-01-2018
 
Disclaimer: Views or opinions expressed are solely those of the Author and should be used with discretion. The Author shall not be held liable for any acts or omissions arising from the use of the information. The user will be personally liable for any damages or other liability arising hereof.


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Compulsory Licensing: Hepatitis C



The international community acknowledged Malaysia for being the first nation to invoke compulsory licensing allowing hepatitis C patients to gain access to affordable medicine.
The country was awarded the Leadership Award in Intellectual Property and Access to Medicines.
The Government received the award at the Global Summit of Intellectual Property and Access to Medicines in Morocco on Monday, said Health Director General Datuk Dr Noor Hisham Abdullah.
“A pride to the nation. Malaysia is a trailblazer when it comes to access to medicine for hepatitis C. Congra­tulations to Dr Salmah Bahri and team,” he said.
The summit was organised by the International Treatment Prepared­ness Coalition (ITPC).
It brings together community representatives, governments, civil society, academics, experts and international agencies to look at the impact of international trade rules on public health.
It also highlighted the role of NGOs and patients in the implementation flexibilities of Trade-Related Aspects of Intellectual Property (TRIPS).
In July, The Star carried a front page story highlighting the plight of about 400,000 Malaysians who suffered from hepatitis C, with only a fraction of whom can afford the medication that can cost up to RM300,000 for the full course of treatment.
Malaysia is not given special prices for the newer drugs by pharmaceutical companies because it is considered a middle-income country.
The Health Ministry has teamed up with the Drugs for Neglected Diseases Institute to come up with an affordable cure.
In the meantime, patients have to fork out huge sums for medication, try to get into clinical trials for other potential cures or seek treatment in other countries.
Subsequently, the Cabinet gave approval to issue a government-use licence to enable the import of generic versions of the hepatitis C drug Sofosbuvir.
Even if medicine is patented for 20 years, the Government has the right to issue compulsory licensing under the rights, flexibilities and safeguards vested to World Trade Organisation members by the agreement on TRIPS.
Governments can issue a compulsory licence to authorise a local import company to bring in the generic drug or to manufacture it itself by a local generic company.
The government-use licence is only applied for drugs to be used in government health facilities.
The Patents Act comes under the purview of the Intellectual Property Corporation of Malaysia (known as MyIPO) of the Domestic Trade, Cooperatives and Consumerism Ministry.

 /theSTAR 18-01-2018


Disclaimer: Views or opinions expressed are solely those of the Author and should be used with discretion. The Author shall not be held liable for any acts or omissions arising from the use of the information. The user will be personally liable for any damages or other liability arising hereof.


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