Duopharma Biotech Bhd’s wholly owned subsidiary, Duopharma (M) Sdn Bhd, won a RM155.28 million contract to provide recombinant human insulin products and reusable insulin pens to public hospitals and clinics across Malaysia from June 3, 2026, to June 2, 2029 [1, 2, 3, 4].
The contract covers recombinant human insulin 100 IU/ml Penfill/Refill formulations, including short-, intermediate-, and premixed-acting insulin types, along with reusable insulin pens [1, 2, 3, 4]. Duopharma must furnish an irrevocable performance bond of RM2.59 million within 30 days of accepting the letter of award [1, 2].
Failure to meet delivery deadlines or quality and tender terms may result in order cancellations, penalties, or termination of the contract by the Malaysian government [1, 2].
Malaysia has an estimated 4.75 million diabetics, with approximately 450,000 patients receiving recombinant human insulin treatment through government hospitals and clinics [1, 2]. Duopharma, which serves as the primary distributor for India’s Biocon Biologics, manufactures insulin locally in Johor and previously supplied about 80% of the government's insulin needs [1, 2].
The company became the sole supplier of human insulin last year after Danish pharmaceutical firm Novo Nordisk exited the market in 2024 [1, 2]. Duopharma's shares closed unchanged at RM1.21 on June 9, 2026, with a market capitalization of around RM1.16 billion and a five-year low average price-to-earnings ratio of 12.5 times [1, 2].
The government issued the letter of award to Duopharma (M) Sdn Bhd on June 2, 2026, one day before the supply contract officially began [1, 2]. The agreement will expire on June 2, 2029 [1, 2, 3, 4].
