Drug manufacturer and distributor Biopharm Chemicals is turning more towards neutraceuticals, which combine pharmaceuticals and nutrients, as it is a higher-growth field than conventional medicines.
Managing director Virapatna Thakolsri yesterday said the neutraceutical segment enjoyed annual growth of 20 per cent in recent years, while sales of conventional medicines grew only 8 per cent last year and will increase only 6 per cent this year.
Changing lifestyles and consumption behaviours among urban residents have been the main factors in the success of neutraceuticals, as such people are becoming more concerned about their health amid the altering environment.
Biopharm Chemicals produces three brands of neutraceuticals: Calvin, for bone enrichment; Kalvin, for health and beauty enhancement; and Vio vitamins and supplements.
A total of 10 products are carried under the three brands, and the company will launch another 10 this year. At the same time, Biopharm will also begin exporting its neutraceuticals, particularly to other Asean members, the Middle East, Europe and the US.
Virapatna said the company's pharmaceutical plant in Samut Prakan's Bang Pu Industrial Estate was certified by the European Union's Pharmaceutical Inspection Cooperation Scheme last year. This will facilitate the company's expansion into export markets.
Biopharm has targeted domestic revenue of Bt1 billion this year: 15 per cent from neutraceuticals and the rest from medicines.
This year's export revenue is projected to be Bt150 million.
Biopharm Chemicals, a manufacturer and distributor of pharmaceutical products, has shifted to focus more on neutraceutical products, the integration between pharmaceutical and nutrition, in order to reap benefit from the higher growth than medicine market.
Managing director Virapatna Thakolsri yesterday said neutraceutical segment witnessed sales growth of more than 20 per cent over the past few years, while medicine industry last year experienced sales growth of 8 per cent and it is forecasted to increase by 6 per cent this year.
The key factor to support growth in neutraceutical is the changing consumption lifestyle of city people, who tend to concern more in their health amid the altering environment.
Biopharm Chemicals has three brands for its neutraceutical products; Calvin for bone enrichment, Kalvin for beauty and health improvement, and Vio which the brand of vitamins and supplements products. The company has around 10 products in three brands and plans to launch other 10 products this year.
Virapatna said Biopharm had also planned to introduce the neutraceutical products in international markets such as Asean countries, the Middle East, Europe and the US simultaneously.
The company's pharmaceutical plant in Bangpu Industrial Estate has been certified the Pharmaceutical Inspection Cooperation Scheme (PIC/S) of the European Union since last year. The certification will help expand its export markets, he added.
He said Biopharm targeted domestic revenue this year at Bt1 billion, of which 15 per cent would come from neutraceutical products and the remainder from medicine. Meanwhile, it projects export revenue this year at Bt150 million.
