Duopharma Biotech Berhad, through its subsidiary Duopharma Marketing Sdn Bhd, has inked an Exclusive Distributorship Agreement with Owen Mumford, a UK-based medical device company. The agreement covers the distribution of medical devices in Malaysia, Singapore, and Brunei.
Duopharma Biotech is set to distribute a selection of Owen Mumford’s diabetes care and eye care products, including Unifine® Pentips ® and Unifine® Pentips® Plus insulin pen needles, Unistik® 3 and Unilet® Excelite lancets, and the Autodrop® eye drop guide. These products will be supplied to government and private healthcare facilities, as well as other patient care facilities and retail outlets. There is also potential for the expansion of the product range. This initiative is particularly significant given the escalating diabetes burden in Malaysia. The prevalence of diabetes among Malaysian adults has surged to 18.3% in 2019, and it is projected to afflict 7 million Malaysian adults by 2025, with a prevalence rate of 31.3%.
The medical devices sector is a priority in Malaysia’s New Industrial Master Plan 2030, which aims to transform the country into an innovation-driven manufacturing hub. The Malaysian Investment Development Authority (MIDA) reported that the medical devices industry saw approved investments of MYR 807.6 million (USD 170 million) in the first nine months of 2023. Of this sum, 73.7% stemmed from domestic sources, while the remaining 26.3% originated from foreign investments. This substantial investment resulted in the creation of 1,363 new employment opportunities.
(Sources: Duopharma Biotech; The Sun)
