KUALA LUMPUR: Duopharma Biotech Bhd today said the government has accepted the tender offer from its wholly owned subsidiary Duopharma Marketing Sdn Bhd (DMktg) to supply Insugen, a human insulin formulation, to all Ministry of Health’s hospitals, district health offices and clinics.

       The group said the supply contract, worth RM375.17 million, would be for a period of three years commencing on Dec 17, 2021 until Dec 16, 2024.

       "With an estimated 3.9 million diabetics in Malaysia, of which about 420,000 patients are treated using human insulin in government hospitals and clinics, DMktg hopes to improve diabetes management in the country by providing high quality and cost-effective biosimilar insulin,” it said.

       The group said the contract was in its ordinary course of business of a revenue nature as it is primarily involved as manufacturer, distributor, importer and exporter of pharmaceutical products and medicines.

       It expects the contract to contribute positively to the group’s future earnings and earning per share for the current financial year (FY) and for FY2022, FY2023 and FY2024. - Bernama