Duopharma Biotech is a worldwide pioneer in the research and development of halal pharmaceuticals.
SAN ANTONIO, July 25, 2023 /PRNewswire/ -- Frost & Sullivan recently researched the Malaysian halal pharmaceutical industry and, based on its findings, recognizes Duopharma Biotech Berhad (Duopharma Biotech) with the 2022 Malaysian Company of the Year Award. Duopharma Biotech aims to produce safe, effective, and high-quality Halal products for all consumers and set the standard for the Malaysian pharmaceutical industry.
Halal is an Arabic word that describes lawful or permissible products targeted at Muslim consumers. According to the State of Global Islamic Economy Report 2022, the Halal pharmaceutical market was valued at $100 billion in 2021 and is likely to reach $129 billion by 2025. As a result, Duopharma Biotech can benefit from the growing demand and is in a privileged position to fulfill the need for Halal pharmaceutical products.
The company is expanding and improving its Halal portfolio to differentiate itself from competitors. It is the first pharmaceutical company to market a biosimilar erythropoietin, branded as ERYSAA®, a biosimilar product for treating anemia in chronic kidney disease. Duopharma Biotech designed this product to meet the health and wellness needs of the Malaysian population in a cost-effective manner that also complies with medical and Muslim standards.
"As the world's first halal biosimilar, ERYSAA® secures Duopharma Biotech's leadership in the Halal pharmaceutical industry. In 2021, as physicians prescribed ERYSAA® to more dialysis patients, product sales grew by 52%. Despite the fierce competition from short and long-acting erythropoietin stimulating agents, ERYSAA® expanded into the dialysis market, with approximately 49% of dialysis centers and hospitals prescribing it to their renal anemia patients," said Dr. Maeirah Ashaie, Best Practices Research Consultant at Frost & Sullivan.
Part of Duopharma Biotech Biotech's initiatives includes leading halal pharmaceutical awareness campaigns and exploring international collaborations to share halal-certified products. The company is building partnerships with international organizations to raise awareness of the importance of halal products to the Muslim population and is planning to expand to other markets, including the United Arab Emirates (UAE).
Duopharma Biotech regularly conducts online surveys to ensure high customer service and quality standards and support its continued growth. As a result, the company scored 98% on the customer satisfaction index, higher than its previous two years' figures.
"In 2021, the Halal Development Corporation Berhad (HDC) introduced a Sectoral Roadmap for halal pharmaceuticals to promote industry development. Duopharma Biotech is a member of the Sectoral Working Group, whose mission is to review and monitor the implementation of established measures. The company seeks to establish itself as a global thought leader in halal pharmaceuticals," noted Ashaie.
Each year, Frost & Sullivan presents a Company of the Year award to the organization demonstrating excellence in growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies and the resulting leadership in customer value and market penetration.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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About Duopharma
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 Commercialization & 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-recognized 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 commercialized 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, Singapore and Indonesia.
Website: www.duopharmabiotech.com