Betting big on healthcare Betting big on healthcare
Startups and conglomerates are raising Thailand s profile in the medical industry through innovation and investments in domestic production and supply chains
published : 29 Jul 2021 at 04:00
1 Low-nicotine tobacco leaves are being used by Baiya Phytopharm researchers to produce a new Covid-19 vaccine scheduled to be tested by volunteers in September this year.
AstraZeneca vaccines, made by locally licensed Siam Bioscience, and a new Covid-19 vaccine being developed by Baiya Phytopharm Co mark a significant step for Thailand as a global player in the medical business.
These firms are paving a new direction for the country as companies with little to no background in advanced medical and pharmaceutical technology are encouraged to take part.
Lotus revenue hits record on exports
By Kao Shih-ching / Staff reporter
Lotus Pharmaceutical Co (美時化學製藥), one of the nation’s leading specialty generic drug developers, yesterday said revenue last year hit a record NT$10.58 billion (US$371.4 million) on the back of robust exports.
Revenue last year rose 15 percent annually, despite plummeting 41.7 percent last month to NT$1.01 billion, which could be attributed to a high comparison base in 2019 due to higher sales of gSuboxone, a company official said by telephone.
GSuboxone is the generic version of Indivior Inc’s Suboxone used in the treatment of opioid use disorder, company data showed.
“Although falling annually, December’s revenue still stood at a comparatively high level. It was the fifth month with revenue of more than NT$1 billion last year,” Lotus Pharmaceutical director of corporate finance and investor relations Angela Luan (欒君儀) said.