KUALA LUMPUR (July 15): Pharmaniaga Bhd is in discussions with foreign companies to explore opportunities to potentially develop therapeutic cannabidiol (CBD) pharmaceutical products, but noted that it will undertake this prospect with great care in view of Malaysia's drug control legislation.
Pharmaniaga group managing director Datuk Zulkarnain Md Eusope said that the pharmaceutical company has been approached by several parties with regard to developing CBD products, noting that most of these are US-based companies.
"We [are taking a careful approach] because we have to make sure that the government [approves it], because cannabis, whether you own it or whatnot, is [an offence] under the Dangerous Drugs Act [1952].
"In terms of Pharmaniaga, we are looking at the therapeutic drugs [category] for cannabis, and we have to make sure the process and the programme are in accordance with the drug control acts. So as long as the government has not amended these acts, we will follow them as they are," he added.
Zulkarnain noted that as the drug will be "plant-based", Pharmaniaga is looking for a business partner equipped with the appropriate technology to carry out the necessary tests for developing the CBD drug.
"For plant-based drugs, they must go through clinical trials and other programmes, just like a chemical drug, so we are looking into this thoroughly," he said.
Pharmaniaga is currently reviewing proposals for the development of cannabis-based and cannabis-related drugs and will make an announcement when it decides on the CBD product it is to produce, according to Zulkarnain.
Health Minister Khairy Jamaluddin on Thursday (July 14) said that the ministry would soon announce a framework to enable certain CBD products to be registered by 2023, according to news reports.
At the launch of The Centre's Report on Malaysians' views towards drug-related issues, Khairy said CBD products should be for self-medicating purposes, and be prescribed by a healthcare professional.
In April this year, the health minister said the ministry welcomed any industry or academia-initiated research for the medicinal use of CDB.
In November last year, Khairy said applications for the use of cannabis for medical purposes could be submitted to the Drug Control Authority for evaluation and registration if there is sufficient scientific evidence for it to be marketed.
Shares in Pharmaniaga finished one sen or 1.65% higher at 61.5 sen, giving it a market capitalisation of RM805.62 million.