Kuala Lumpur - CCM Duopharma Biotech Berhad (CCMD) ’s revenue decreased less than one per cent to RM32.19 million for its third quarter ended September 30, 2009 (Q3 2009) compared to the corresponding quarter in 2008.

Meanwhile, CCMD ’s profit before tax (PBT) eased to RM9.28 million in the same period from RM11.10 million last year.  The decline in PBT was due to changes in fair value of two vacant plots of land taken up in the corresponding period last year.  Operationally, the PBT was consistent to corresponding period last year.

For the nine months ended September 30, 2009, CCMD ’s revenue grew to RM93.92 million from RM93.34 million in the corresponding period in 2008. However, the Company ’s profit before tax dipped to RM29.61 million from RM31.73 million in the same period last year also due to changes in fair value of the two vacant plots of land.

CCMD ’s revenue and PBT in Q3 2009 fell from RM34.06 million and RM10.97 million respectively in comparison with the second quarter results ended June 30, 2009. The decline in revenue was mainly due to lower sales to export and local private markets while the decrease in PBT was mainly attributed to lower margins from Government tender sales.

The Board of Directors does not recommend any interim dividend for this quarter.

CCMD recently signed a strategic partnership with Inno Bio Ventures Sdn Bhd (IBV) to jointly develop biosimilar products and explore future business opportunities, especially in the manufacturing and commercialisation of erythropoietin (EPO) biosimilars. Erythropoietin is used to treat anemia associated with cancer and renal disease and the market for this drug was worth more than US$10 billion globally, making it one of the world ’s best selling human medicine. The MOU would enable CCMD to enhance its presence and competitiveness in the fast growing biopharmaceutical market by meeting the increasing demand from patients and governments particularly for cheaper bioequivalent versions of the original biopharmaceutical drugs to reduce medical expenditure, especially during economic downturns.

CCM Duopharma Biotech Berhad is a subsidiary of CCM Berhad which is listed on the main board of Bursa Malaysia. CCM is a key player in the fertilizers, chemicals and pharmaceuticals industries.

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Issued with the compliments of Chemical Company of Malaysia Berhad For further information, please contact: Ida Fazila Ismail of Eric Pringle Associates Public Relations Sdn Bhd at Tel No: 21617144 or e-mail:ifazila@epapr.com.my