CCM Duopharma Biotech Bhd aims to move up its ranking as the second top 10 pharmaceutical companies in Malaysia by value in the next 24 months from third currently, behind Merck Sharp & Dohme Sdn Bhd and Pfizer Pharmaceutical.
Its Group Managing Director, Leonard Ariff Abdul Shatar, said the target would be driven by its existing and new over-the-counter (OTC) products to be launched moving forward, which would rake in annual sales of over RM500 million from RM400 million last year.
"Apart from our Effervescent and other existing products line which remained crucial in our business, we also have a series of other OTC products to be launched in the next 24 months, with the earliest this July.
"Our concern is if we only focus on the generic medicine, the margin will become thinner and thinner, as the competition becomes much more severe over the time. Our (generic) products are still profitable, we just want to widen the area of the business," he said.
Meanwhile, Leonard Ariff said, the new plant would put the company at the forefront of technology development in manufacturing high-quality pharmaceutical products using Effervescent technology that offers advantages over conventional manufacturing of healthcare products