CPHI South East Asia 2024, The ASEAN's leading Pharmaceutical solutions event, is driving Thailand towards becoming a medical hub, while attracting companies with potential to join the event. Greater Pharma, Thailand's manufacturer and distributor of medical supplies and consumer products, will join the event to showcase its progress in research and development with highlights including Thailand's first stem cell innovation that has been approved by the FDA. Recently, Greater Pharma has joined hands with Chiang Mai University's Science and Technology Park (STeP) as the two parties signed "a memorandum of understanding on academic cooperation in driving health and beauty research for commercial and social utilization" to promote NK cell research as an alternative treatment for many diseases, including cancer. The research aims to solve health problems for Thais as it sets a goal to become a leader in health innovation in ASEAN while creating business value from upstream to downstream and increasing competitiveness of Thailand's pharmaceutical and health product industries among ASEAN as well as in a global stage. Be prepared to join Asia's pharmaceutical industry event of the year - "CPHI South East Asia 2024" - on 10-12 July 2024 at Queen Sirikit National Convention Center.
Ms. Rungphech Rose Chitanuwat, Regional Portfolio Director - ASEAN, Informa Markets and Country General Manager - Philippines, the organizer of "CPHI South East Asia 2024", said "With a market value of approximately 225 billion baht, Thailand is one of the leading pharmaceutical markets in Southeast Asia. The universal health coverage program has made pharmaceutical drugs less expensive and more accessible. This results in the value of Thailand's pharmaceutical market that is increasing. The government has also proposed a strategic plan to drive Thailand to become a medical hub in Asia to attract foreign patients and medical tourists. It is expected to contribute to the healthcare industry and also offer an important opportunity for micro, small and medium enterprises (MSMEs) in the pharmaceutical market to enhance their capabilities.
This year's event comes with an important goal of creating pharmaceutical security in Thailand in order to drive the country towards becoming medical hub of Southeast Asia. With pharmaceutical drug production in Thailand that meets international standards and is ready to compete as a drug manufacturer for the international market, this year's event has expanded to also include "Medlab Asia & Asia Health 2024" to cover pharmaceutical industry, medical equipment and comprehensive health care. "CPHI South East Asia 2024" and "Medlab Asia & Asia Health 2024" will act as medium that connects players in the Thai pharmaceutical industry and brings their potential to showcase in the eyes of international communities under the concept of "International Healthcare Week" that creates comprehensive health care and system development.
Mr. Chernporn Tengamnuay, Managing Director of Greater Pharma Company Limited, a manufacturer and distributor of medical supplies and consumer products, said "Thailand has the potential to become a medical hub judging by the strength of our medical services that have several advantages from the price point and good service to the quality of medical personnel, particularly those in the fields of alternative medicine and rehabilitation care. This makes Thai medical industry a fully integrated industry with high investment trend in the future."
Meanwhile, Thailand still relies on pharmaceutical drug imports with at least 65% of the total pharmaceutical market, worth up to 200 billion baht, are imported, and only 35% being produced in Thailand. Most of the locally produced drugs are ready-made drugs or drugs from downstream drug production. Otherwise, they are generic drugs, produced as copies of original drug formulas or prototype drugs from foreign countries whose patents have expired. Upstream drug production of newly discovered medicine and production of intermediate drugs or the production of raw materials are still very rare to find.
Greater Pharma Group is, therefore, committed to push forward and become a leading company in ASEAN in developing health and beauty innovations. The company starts with the determination to produce quality products that are able to solve health problems for Thais in a way that is easier to access at affordable and fair prices. That way, Thai people can depend less on imports. And it also brings sustainable profits for trading partners.
"We want to be a fully integrated pharmaceutical manufacturer from upstream to downstream, especially in specialized drugs in order to reduce and replace imported drugs, such as advanced therapy medicinal products, biological drugs, and probiotics, etc."
Meanwhile, an approach of developing many product groups was executed in collaboration with the Faculty of Medicine, Siriraj Hospital, covering the development of allergy testing kits and vaccines from the process of breeding dust mites and cockroaches and the extraction process to obtain important substances which are raw materials specific to the allergies of Thai people as well as the production process of test kits and vaccines until the company becomes the first company in ASEAN to launch the products. The company also aims to be the first manufacturer in ASEAN to begin research and develop advanced therapy medicinal products, such as stem cells and NK cells as options for cancer treatment, following an official license approval by Thailand's Food and Drug Administration, Ministry of Public Health.
In addition to elevating its potential in research and innovation, Greater Pharma sees the importance of expanding to new markets. Recently, the company introduced new products that elevate the brand's image and make it more appealing to generation Z by tapping teen heartthrob "Bright-Vachirawit Chivaaree" to be a presenter for Mybacin Zinc, inviting young generation to "Come…Zinc with Bright". At the same time, the company will also participate in the CPHI South East Asia 2024 to build brand awareness and present latest innovations from Greater Pharma to those who attend the event.
"Greater Pharma is committed to being ASEAN's leading company that develops health and beauty innovations while also producing quality products that are able to solve health problems for Thais in a way that is easier to access at affordable and fair prices. That way, Thai people can depend less on imports. And it also brings sustainable profits for trading partners."
Come and experience fascinating pharmaceutical innovations and technologies and gain new business opportunities at CPHI South East Asia 2024, a fully integrated trading and conference platform for people in pharmaceutical industry in Southeast Asia. The event is scheduled to kick off from 10-12 July 2024 at Queen Sirikit National Convention Center.
For registration to CPHI South East Asia 2024, click ww.cphi.com/sea.
Source: Make A Wealth Consulting
