Pharmaniaga Eyes Biopharma Expansion, Logistics Growth After Regularisation Plan

KUALA LUMPUR, Sept 23 — Pharmaniaga Berhad has completed its regularisation plan, paving the way for its anticipated PN17 exit by 1QCY26, according to MBSB Research. Following a capital reduction exercise and private placement, its issued shares rose to 6.56 billion, with 19 new investors onboard, diluting major shareholder stakes from 55% to 44%. The group is also strengthening its logistics capacity, acquiring a RM30 million freehold factory and office property in Seberang Perai Selatan, Penang, under Pharmaniaga Logistics Sdn Bhd.

Biopharma Expansion

The expansion is part of its commitment to build four new logistics centres nationwide in line with its Ministry of Health concession. Looking ahead, Pharmaniaga is betting on biopharmaceuticals, with over 91 new products expected within five years. Human insulin — recently granted halal certification by JAKIM — is poised to be its next growth driver, potentially securing a major MoH tender. MBSB Research maintained a BUY call with a target price of RM0.32.

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