Bintai Kinden inks deal with NGT Solutions to distribute Sinopharm's Covid-19 vaccine to private sector

Bintai Kinden inks deal with NGT Solutions to distribute Sinopharm's Covid-19 vaccine to private sector
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KUALA LUMPUR (Sept 7): Bintai Kinden Corp Bhd has via its unit Bintai Healthcare Sdn Bhd inked a deal with NGT Solutions (M) Sdn Bhd (NGTS) to jointly distribute Sinopharm's Covid-19 vaccine to the private sector in Malaysia.

In a filing with Bursa Malaysia, the mechanical and electrical engineering services provider, which ventured into the distribution of Covid-19 vaccine in August 2020, said it entered into a business collaboration agreement with NGTS with the aim of achieving a sales forecast of vaccination for 5,000 persons in the first three months once the vaccine is made available to the private sector.

"NGTS will be providing the manpower and clinical resources including personal protective equipment and medical equipment to assess, vaccinate and monitor individuals as well as managing emergencies during the vaccination process.

"[Both] parties shall identify customers in the private sector and jointly develop sales and marketing strategies by leveraging on each other's experience, expertise and technical know-how," Bintai Kanden said.

To recap, Duopharma Biotech Bhd was granted conditional registration approval by the Drug Control Authority on July 16 for Sinopharm's COVILO Covid-19 vaccine.

The approval allows Duopharma — which appointed NGTS as a healthcare organiser (HCO) — to supply the vaccine to the private sector via local marketing and distribution rights that have been secured for the vaccine manufactured by Sinopharm, China.

Bintai Kinden executive director Noor Azri Noor Azerai said the collaboration between Bintai Healthcare and NGTS is an important milestone for Bintai Group to enhance its capability as a healthcare provider to provide a wider range of products and services, including distribution of medical devices and healthcare solutions in Malaysia.

"We already have the products to store, transport and distribute Covid-19 vaccines at various temperatures. Bintai Healthcare is the exclusive distributor for Greenie Medi Cold Chain Box produced by SLAB Asia Co Ltd, Korea (SLAB Asia) in Malaysia," he said.

The Greenie Medi Box is a temperature-controlled purpose made box suitable for transporting biologics, vaccines and other medical products requiring ultra-low temperatures.

Bintai Kinden also said the parties agreed that after the vaccine orders have been secured, the cost and revenue sharing structure will be discussed and mutually agreed upon at a later stage.

The company's share price slipped to 51 sen from 56 sen last Wednesday (Sept 1) after soaring 50% from 34 sen on Aug 25 to value the company at RM194.76 million.

Lam Jian Wyn