Malaysia's Global Leadership Helps Local Pharma Players In Making Overseas Foray

KUALA LUMPUR, July 28 (Bernama) -- Malaysia’s global leadership in setting standards for halal pharmaceuticals has served to facilitate the successful entry of domestic pharmaceutical manufacturers into the international halal pharmaceutical market, which is forecast to be valued at US$134 billion by 2024. Duopharma Biotech Bhd group managing director Leonard Ariff Abdul Shatar said the MS2424:2012 halal pharmaceuticals standard, which provides general guidelines in the manufacture and handling of halal pharmaceuticals, was rapidly gaining universal acceptance. Meanwhile, its evolution, the MS2424:2019, had significantly expanded the scope of halal certification to address rising demand in biologics and the search for halal vaccines, he said at a webinar on “Embracing a Halal Pharmaceutical Eco-System” organised by the Halal Development Corporation (HDC) in collaboration with Duopharma and KPJ Healthcare Bhd. Hosted by the International Trade and Industry Ministry, it was held Tuesday in conjunction with the World Halal Conference (WHC) 2020 webinar series spotlighting the halal pharmaceutical industry, according to a joint statement issued by HDC and Duopharma. Leonard Ariff said Malaysia's halal pharmaceutical ecosystem was further boosted by the MS:2424 Halal Pharmaceuticals general guidelines which address the entire supply chain -- from processing to retail. According to him, hygiene, sanitation and safety are the key pre-requisites in the halal pharmaceutical manufacturing process, in which Good Manufacturing Practices (GMP) is a compulsory requirement in the preparation of halal pharmaceutical products. “Indeed, these strict requirements for certification translate into an additional layer to drive quality assurance, resulting in a higher benchmark for quality standards. "Halal certification in the manufacturing process is now acknowledged as a most significant value-add in the pharmaceutical industry,” he said. Meanwhile, HDC chief executive officer Hairol Ariffein Sahari said exports of halal pharmaceuticals recorded steady growth, rising to US$94.25 million (RM401 million, US$1 = RM4.25) in value last year from RM395 million in 2018. Total halal exports in 2019 stood at RM40.2 billion. The major export destinations in 2019 were the United States, Singapore, Nigeria, Hong Kong and China. "Apart from promoting emerging halal sectors such as pharmaceuticals, HDC also offers its expertise in facilitating the onboarding of industry players onto the halal economy through training, consultancy and business matching services," Hairol added. -- BERNAMA