A key cog in the vaccination drive machinery
■ PHRM is on track to fulfilling its obligation to supply 12m doses of Covid-19
vaccines to the government by end-Jul, ahead of the initial schedule.
■ Despite weakness in demand from the private sector, sales to the public
sector have remained steady amid persistently high Covid-19 cases.
■ Reiterate Add with ex-bonus adjusted TP of RM1.06 (23x CY22F P/E).