In September, Finance Minister Lim Guan Eng(pic) had announced that Putrajaya would review its existing contract with Pharmaniaga, and expressed concerns about the effects of an alleged drug provision monopoly on public healthcare cost. Analysts said investors had sold down the stock because they did not like uncertainty, even though there are chances that the company may win a contract even in an open tender system
PETALING JAYA: Pharmaniaga Bhd
has voiced its confidence in securing contracts from the Health Ministry even as its share price tanked 11.6% following the termination of its concession to distribute medicine in the country.
The company will see its exclusive concession to distribute drugs and medical supplies for the Health Ministry ending from Nov 30, with an open tender system being introduced.
Limited time offer:
Just RM5 per month.
