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Duopharma Biotech is the first pharmaceutical company to offer biosimilar products in the Malaysian market.
SAN ANTONIO, July 27, 2023 /PRNewswire/ -- Frost & Sullivan recently researched the Malaysian biosimilars industry and, based on its findings, recognizes Duopharma Biotech Berhad (Duopharma Biotech) with the 2022 Malaysian Company of the Year Award. Duopharma Biotech delivers accessible and affordable healthcare to the Malaysian population by leveraging biosimilars, which are scientifically approved alternatives to drugs derived from biological sources.
Biosimilars typically cost between $100 million and $200 million to develop, while original drugs cost around $2.6 billion and take over a decade of testing. Consequently, biosimilar drugs are more affordable for Malaysian patients and are a cost-effective alternative to original drugs.
Healthcare professionals and patients benefit from Duopharma Biotech's products because its biosimilars are an excellent choice for managing diabetes, cancer, and renal anemia. For medications to remain affordable, the company commercialize a wide range of biosimilars, such as Zuhera and Krabeva for cancer treatment and ERYSAA®, a biosimilar of Epoetin Alfa, for dialysis patients. These products position Duopharma Biotech as a leading supplier of biosimilars in Malaysia and in the Association of Southeast Asian Nations (ASEAN). Erysaa has also been successfully registered and commercialised in the Philippines.
"One of Duopharma Biotech's competitive advantages in ASEAN is its uniquely diverse product portfolio, which allows it to compete with other market participants. Duopharma Biotech has launched biosimilars Zuhera and Krabeva for the Cancer Care Franchise as well as Insugen and Basalog One for the Diabetes Care Franchise. In addition, Duopharma Biotech's first biosimilar ERYSAA® received its Halal certificate from the Korea Muslim Federation (KMF) in 2020 and 2021. It is the world's first Halal-certified biosimilar used for dialysis patients," said Dr. Maeirah Ashaie, Best Practices Research Consultant at Frost & Sullivan.
An increase in sales in 2021 supports the popularity and competitiveness of Duopharma Biotech biosimilars in the market. ERYSAA®'s performance was impressive since its sales increased by 52%, with dialysis centers and hospitals prescribing ERYSAA® for patients in approximately 49% of cases.
This exceptional financial performance is due to Duopharma Biotech's commitment to delivering high-quality products and services that exceed customers' expectations and meet local and international regulatory requirements. Throughout the quality policy, the company is fully committed to understanding and meeting customer needs with superior customer service.
"Duopharma Biotech's quality policy outlines its commitment to building trust by offering products and services that satisfy customers' expectations and comply with local and overseas regulatory and quality requirements. The quality policy requires Duopharma Biotech to understand and fulfill customer requirements, provide a high standard of service to internal and external customers, continuously engage and delight customers and stakeholders, and improve processes, products, and services continuously," 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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Contact:
Tammy Chan
tammy.chan@frost.com
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
