DUOPHARMA Biotech Bhd said the government has agreed to extend its existing insulin supply agreement with the company’s wholly owned subsidiary, Duopharma Marketing Sdn Bhd (DMktg), and its partner Biocon Sdn Bhd, the Malaysian unit of India’s Biocon Ltd, for an additional six months.
In a filing with Bursa Malaysia today, the pharmaceutical products maker said the extension will take effect from April 29, 2025 to October 28, 2025.
The agreement, originally announced on September 30, 2022, involves the supply of recombinant human insulin formulations to the government, with DMktg acting as the supplier and distributor, and Biocon as the manufacturer.
“The company wishes to highlight that the said amendment will be formalised through the execution of a formal supplemental agreement to the agreement between the government, DMktg and Biocon at a later date,” Duopharma Biotech said in the announcement.
It added that the contract and its extension are transactions of a revenue nature in the ordinary course of business for the group.
The extension follows the acceptance of a revised letter of award by DMktg and Biocon in 2022, under which the contract was set for three years from April 29, 2022 to April 28, 2025, with a total value of RM375.17 million.
The revised LOA replaced an earlier agreement scheduled from December 17, 2021 to December 16, 2024. — TMR
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The post Duopharma Biotech gets six-month extension for insulin supply contract appeared first on The Malaysian Reserve.
