CCM to expand Pharmaceuticals to reduce exposure to Industry cycles

Chemical Company of Malaysia Bhd (CCM) will continue its expansion efforts in the pharmaceuticals division to mitigate the group's exposure to industry cycles, said Group Managing Director Amirul Feisal Wan Zahir.

"We will continue our strategic focus of extending products in niche areas such as oncology, biotherapeutics and vaccines while improving the product pipeline and customer offerings," he told a media briefing after CCM's 52nd annual general meeting here on Tuesday, 27-05-2014
CCM's profit before tax (PBT) for the financial year ended Dec 31, 2013 dipped to RM20.7 million from RM71.9 million in the previous year, due mainly to lower revenue and gross profit margins at its fertilisers and chemicals divisions.

However, the pharmaceuticals division achieved strong growth in fiscal 2013, recording a 34 per cent increase in PBT on improved sales of prescription drugs to the government, the private sector as well as export markets.

Amirul Feisal said CCM's partnership project such as in joint clinical trials with PanGen Biotech Inc of South Korea in testing new pharmaceutical products is the division's cornerstone strategy in commercialisation of biotherapeutic products, eliminating the need to invest in very expensive clinical trials and long gestation periods to deliver the product to the market.

For the chemicals division, he said CCM will continue to expand its total solutions approach and enhance the portfolio of new products focusing on key industry segments covering health and hygiene, and food and pharmaceutical ingredients.

For its fertilisers division, the group will expand its dealer and distributor network to focus more on small and medium sized estates, he added.
/BERNAMA: 27-05-2014

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