2024-01-14 05:34:00
Keeping an eye on the 188 billion-dollar pharmaceutical industry, growing rapidly, “Bangkok Lab” is confident that demand will surge. Moving forward to penetrate the market, promoting the “4P Innovation” strategy, researching and developing new generic drugs, creating the New S-Curve, penetrating modern trade offline and online.
Overviewpharmaceutical industryIn Thailand last year, the total value was approximately 188 billion baht, growing 7.2%, divided into generic drugs (Generic Drugs) 96 billion baht, growing 5.8%, herbs (Herbal) 52 billion baht, growing 8.6%, cosmetics (Cosmetic ) 20 billion baht, growing 11.8%, dietary supplements 72 billion baht, growing 9%, skincare products 95 billion baht, growing 11.1%, considered a market with potential and likely to grow further. causing entrepreneurs to turn to aggressive marketing continuously
Mr. Suwit Ngamphophan, Chief Executive Officer Bangkok Lab and Cosmetics Public Company Limited or BLC Revealed to “Than Setthakit” that the overall pharmaceutical industry is likely to grow at an average of 7% per year from people returning to hospital for treatment. and the trend of health care to build immunity is growing around the world.
Including regarding to enterCompletely elderly society (Complete-Aged Society) of Thailand In 2023, Thailand has approximately 12.8 million elderly people, accounting for 19.40% of the total population in the country. As a result, the demand for medicines in the health system continues to expand.
The company aims to create an average annual income growth of 200 million baht by focusing on the strategy “4P Innovation” namely
1. Product The company researches and develops modern drugs in the category of generic drugs (Generic Drugs) and new generic drugs (New Generic Drugs) to replace drugs from foreign countries when original drugs expire on patent. With plans to continue releasing it every quarter. To increase the ability to create continuous revenue and profit growth of the group of companies.
Focus on drugs that have a high proportion of disease per population. has a high growth rate Supporting the expansion of the aging society in Thailand and health trends that are growing around the world It is considered the creation of a New S-Curve, driving the group’s revenue and profits to grow exponentially.
2. Place Aiming to expand into the hospital market This is a large market accounting for up to 80% of the total value of the pharmaceutical market in Thailand. Increase sales through drugstore channels, which are likely to continue to grow. Including expanding distribution channels to online channels, Modern Trade and e-Commerce to make it easier for consumers to access a wide range of the Group’s products.
3. Process Create Brand Awareness for the products of the group of companies. Ready to proactively communicate marketing activities both offline and online.
4. People The group of companies has personnel with expertise in the pharmaceutical industry for a long time. and has a strong sales team to expand market share Including having trade partners ready to create growth together with BLC both domestically and abroad.
The company currently accounts for approximately 6% of its exports with key markets in the CLMV (Cambodia, Laos, Myanmar, Vietnam) and aims to expand into the Philippines. Middle East region and China increased The target is set in 5 years to have the proportion of exports increased to 9% and the domestic market including all channels approximately 91%.
For BLC’s operating results for 9 months of 2023, there was total revenue of 1,011 million baht and net profit of 100.7 million baht, an increase of 13.3% and 14.6% from the same period last year, respectively.
Page 16 Thansettakij Newspaper, Year 43, Issue 3,957, Date 14 – 17 January 2024
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