PETALING JAYA: The Galen Centre for Health and Social Policy has called for an end to the “monopoly” of pharmaceutical giants to procure drugs for the government within five years.

Otherwise, it said, it would send the wrong signal to the healthcare industry that innovation, value and fair competition are not recognised or rewarded.

Commenting on the possibility of the health ministry extending the concession of Pharmaniaga for a further decade, the think tank’s founder and CEO, Azrul Mohd Khalib, said the company has enjoyed 25 years of an exclusive agreement to purchase, store, supply and distribute at least 700 pharmaceutical products.

This, he said, was more than a third of the government’s branded and generic drug supply.

“Should this (extension) happen, it would not only mean that for 35 years, this single company would have gained billions of ringgit in public funds annually, it would also send the wrong signal to the Malaysian healthcare industry that innovation, value and fair competition are not recognised and rewarded.

Read more at FMT News