Pharmaniaga partners Delhi lab, MOF to manufacture halal vaccines

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KUALA LUMPUR (Dec 5): Pharmaniaga Bhd announced today that it is partnering Delhi-based MSD Wellcome Trust Hilleman Laboratories Private Ltd (Hilleman) and a Ministry of Finance (MoF) entity to develop and manufacture halal vaccines to be incorporated in Malaysia’s national immunisation programmes.

In a filing with the stock exchange this evening, Pharmaniaga said it had entered into a memorandum of collaboration today with Hilleman and the MOF unit, Technology Depository Agency (TDA), to coordinate their efforts to do so.

“The project covers the exchange of personnel from the companies for purposes such as teaching, research and training in relation to halal vaccines. 

“The focus of the project will be for Malaysia as of the effective date,” its filing said. The memorandum is effective for two years from today. 

Hilleman is a company registered under the laws of India, while TDA is an entity under the MoF, responsible as the Industrial Collaboration Programme (ICP) monitoring authority in Malaysia.

Pharmaniaga does not expect the memorandum to have any effect on its share capital and shareholding structure. “It is also not expected to have a material impact on the earnings and net assets of the company for the financial year ending Dec 31, 2017 (FY17),” the filing read.

Shares of Pharmaniaga closed six sen or 1.62% down at RM3.65 today, giving it a market capitalisation of RM948.35 million. Year-to-date, the stock has lost approximately 28.5% of its market share.