KUALA LUMPUR: Apex Healthcare Bhd envisions further growth in the generic drug segment of the pharmaceutical and healthcare industry.
Generic drugs have emerged as a substitute for expensive, patented drugs.
The company said in its 2022 annual report that the upward trend in generic drugs is expected to continue due to an aging population, rising affluence and increasing life expectancy.
He noted that the 2019 National Health and Morbidity Survey for Malaysia showed that non-communicable diseases accounted for 71% of premature deaths and over 70% of the disease burden.
Commenting on its business performance, Apex said the group has been successful in seizing new opportunities through identifying and supplying products with changing demand in a changing pandemic environment.
“Strategic initiatives implemented earlier to increase revenues through increased new product launches, contract manufacturing services, government tenders and exports have also enabled us to both diversify and increase its revenue base.
“These enabled the group to achieve good revenue and profit growth despite the difficult business circumstances caused by the pandemic,” Apex said.
He noted that increased vaccination rates in Malaysia helped the company’s sales pick up in the second half of 2021, especially to private sector clinics and pharmacies, enabling Malaysian private sector sales to achieve growth. revenues of 12% over a full year compared to 2020. .
Its Singapore operations saw private sector sales increase 43% from 2020 as demand for respiratory products increased.
“Sales growth is also the result of a planned restructuring of the sales and marketing team for greater focus and efficiency,” he added.