The moderators and panellists at the Halal Pharmaceutical Symposium 2022 include (from left) Wan Amir-Jeffery Wan Abdul Majid, Dato Muhammad Lukmani Ibrahim, Brigadier General Dato Dr A Halim Basari, Dr Mazlina Mohd Said, Amrahi Buang, Prof Dr Syed Azhar Syed Sulaiman and Azman Zakaria. (Not in picture: Mohd Fakarudin Masod and Dr Mohammed Ali AlSheikh Wace)
KUALA LUMPUR, June 16 (Bernama) -- Duopharma Biotech Berhad (“Duopharma Biotech” or “the Company“) hosted the Third (3rd) Halal Pharmaceuticals Symposium 2022 on 15th June 2022, as part of The Company’s continuing quest to spearhead efforts to capture the global halal pharmaceuticals market by facilitating the sharing of best practices, achievements and international collaborations to resolve challenges, advance global standards and jointly shape the industry.
Themed The Emergence of Global Best Practices for Halal Pharmaceuticals this year, the international symposium that has been organised by Duopharma Biotech since 2016 aims to reinforce the true meaning of halal pharmaceuticals as the Company works to ensure that the industry supply chains follow rigorous international halal standards to produce high-quality products at every stage of the value chain. In addition, the symposium gathers international experts, industry leaders and standards and regulatory agencies, including the Organization of Islamic Cooperation (“OIC“)’s Standards and Metrology Institute for Islamic Countries (“SMIIC“) to advance halal pharma’s integration into the global healthcare system.
“Duopharma Biotech has strived to establish strategic collaborations to meet the demands of the Malaysian, ASEAN and global markets. We will continue to take the necessary measures to grow the halal pharmaceutical industry in Malaysia and around the world and remain committed to our aspiration to produce safe, effective, quality and halal products for all consumers,” said Tan Sri Datin Paduka Siti Sa’diah Binti Sh Bakir, Chairman of Duopharma Biotech Berhad
According to the State of Global Islamic Economy 2022 Report¹, the halal pharmaceutical market which is based on Muslim’s spend on pharmaceuticals, increased by 6.5% in 2021, from USD93.5 billion to USD100 billion, and is expected to grow by a further 6.7% in 2022 to USD106 billion and reach USD129 billion in 2025 at a 4-year CAGR of 6.7%. Additionally, there is growing acceptance of the halal pharma industry within the mainstream pharmaceuticals industry which has driven further revenue growth in this sector.
Joint Efforts to Elevate Halal Pharmaceuticals
“Another pivotal factor in the growth of the Halal pharma industry is the effort to steward knowledge management which relates to people and talent development. Continuous human capital and knowledge development are imperatives in the development of any industry. Technological advancement and innovation in products and increasingly agile services will continuously challenge halal standards and procedures to intentionally remain “in step and fit for purpose”. Collaboration with UKM on development of Professional Certificate Halal Pharmapreneur which is opened to all professional pharmacists who wish to develop their knowledge is encouraged,” added Tan Sri Siti Sa’diah.
Duopharma Biotech is a member of the Halal Development Corporation (“HDC”)’s Sectoral Working Group tasked with reviewing and monitoring the implementation of identified initiatives. In 2021, the HDC introduced a Sectoral Roadmap for Halal Pharmaceuticals to drive the industry’s growth. This complements the halal pharmaceutical industry’s series of regulated requirements, enhancing existing quality control, safety and efficacy standards, from drug development to procurement, and all the way to distribution.
Since 1999, Duopharma Biotech has pioneered a range of halal health supplements, including CHAMPS, Flavettes, Proviton and Naturalle, which were halal-certified by Jabatan Kemajuan Islam Malaysia (“JAKIM“) in accordance with MS 1500:2009. The Company also complies with the Malaysian Standard on Halal Pharmaceuticals MS 2424:2019, which provides clear guidance on the requirements for producing halal pharmaceuticals. Duopharma Biotech Halal commitment is part of the Company’s sustainability journey.
For more information on the Halal Pharmaceuticals Symposium, please visit www.halal4pharma.com/hps2022
