Thai medicines have made headway into the ASEAN market, generating around Bt80 million in revenue last year as pharmaceuticals registered in the ASEAN region.
Government Pharmaceutical Organisation GPO Director Dr Vithit Attavechakul said Thailand has advanced in manufacturing medicines for chronic diseases which are widely exported to several ASEAN countries, mainly Cambodia, Myanmar, Laos, and Vietnam.Anti-viral drugs for AIDS, anti-diabetic, and anti high-blood pressure drugs are most popular among all medicines.
Dr Vithit said the popularity gained was because consumers were confident of the quality of Thai drugs which are standardised under the GPO and sold both in hospitals and drugstores.
He noted that GPO next week will negotiate with Indonesias equivalent of the Food and Drug Administration to register Thai medicines there. There could also be a joint investment for medications manufacturing in Indonesia.
GPO’s policy is to be the leading domestic drug manufacturer and exporter to the AEC by 2015 in order to accommodate treatment via the country’s public health system and to accommodate free trade for the medicine business and the AEC. Research and development for drug formulas requires bioequivalence and in vitro studies required to represent the efficacy of the drug and to submit for the drug registration to FDA.
The Research and Development Institute, GPO, therefore, established a Bioequivalence Study Center in 2007 by renovating the laboratory and procuring the necessary tools and equipment with a budget of 15 Million Baht in order to apply for Laboratory Quality Standards certification.
At present, GPO is collaborating with a leading Indian Contract Research Organization (CRO) which has provided both clinical research and bioequivalence study services in India, Canada, Poland, the United Kingdom and the United States of America, worked as a consultant for GPO and provided the transfer of the necessary technology to elevate GPO’s Bioequivalence Study Center to a level where it could receive international standard accreditation from organizations such as WHO and EMEA. This is to accommodate the GPO’s new production plant in Rangsit which requires such accreditation.
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Skin-lightening products market to reach US$31 billion by 2024
In emerging Asian and African economies, the natural aspiration to enhance one’s circumstances has led to rapid growth in the market for skin-lightening products, which is projected to reach US$31 billion by 2024.
Has Covid-19 prompted the Belt and Road Initiative to go green?
– Chinese overseas investment dropped off in 2020
– Government remains committed to the wide-ranging infrastructure programme
– Sustainability, health and digital to be the new cornerstones of the initiative
Following a year of coronavirus-related disruptions, China appears to be placing a greater focus on sustainable, digital and health-related projects in its flagship Belt and Road Initiative (BRI).
As OBG outlined in April last year, the onset of Covid-19 prompted questions about the future direction of the BRI.
Launched in 2013, the BRI is an ambitious international initiative that aims to revive ancient Silk Road trade routes through large-scale infrastructure development.
By the start of 2020 some 2951 BRI-linked projects – valued at a total of $3.9trn – were planned or under way across the world.
However, as borders closed and lockdowns were imposed, progress stalled on a number of major BRI infrastructure developments.
In June China’s Ministry of Foreign Affairs announced that 30-40% of BRI projects had been affected by the virus, while a further 20% had been “seriously affected”. Restrictions on the flow of Chinese workers and construction supplies were cited as factors behind project suspensions or slowdowns in Pakistan, Cambodia and Indonesia, among other countries.
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