Pharmaniaga optimistic as share price falls 11.6%

Pharmaniaga optimistic as share price falls 11.6%

This follows the government's announcement that its concession to distribute drugs and medical supplies to public hospitals will end soon.

Pharmaniaga Bhd says ‘it is business as usual’.
PETALING JAYA:
Pharmaniaga Bhd, whose concession to distribute drugs and medical supplies to public hospitals will end soon, said it is optimistic about its future – despite its share price declining by 11.6% today.

At the close of trading, Pharmaniaga’s share price fell by 29 sen to RM2.21.

Its highest traded share price this year was recorded on Jan 11 at RM2.90 and the lowest was on April 15 at RM2.01.

However, Pharmaniaga said it is optimistic of its capabilities to continue serving the nation in line with its tagline “Passion for Patients”.

“It is business as usual,” it said in a statement following Health Minister Dzulkefly Ahmad’s announcement that there would no longer be a concessionaire for logistics and distribution services as an open tender system would be introduced.

“As the government believes in meritocracy, Pharmaniaga is confident that its performance will be the key factor to continue its services, either through extension of the concession or an open tender contract,” it said.

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