THURSDAY, March 28, 2024
nationthailand

Siam Bioscience in biopharma push

Siam Bioscience in biopharma push

SIAM Bioscience Co has formed a 70:30 joint venture with the Cuba-based Centre of Molecular Immunology to research and develop biopharmaceuticals for cancer and auto-immune diseases worth up to Bt3 billion this year.

The JV named Abinis Co will be located in Nonthaburi’s Bang Yai district.
Construction of the plant will commence this year for completion in 2020, Apiporn Pasawat, executive chairman of the Thai firm, told a press conference after Prime Minister Prayut Chan-o-cha and his team visited Siam Bioscience’s plant yesterday.
Siam Bioscience is 100 per cent owned by CPB Equity Co. It was started up in 2009 with registered capital of Bt2 billion. 
It has succeeded in developing two products by collaborating on research with Mahidol University. They are biopharmaceuticals for treating anaemia in patients with kidney failure and for reducing the risk of infection among cancer patients receiving chemotherapy. 
Distribution of both products began last year and sales are expected to reach Bt100 million this year.
The new plant will launch six biopharmaceuticals for cancer and auto-immune diseases when it goes into operation in 2020.
The new plant will apply for privileges from the Board of Investment (BOI). “Our existing plant that was [set up] in 2009 got eight years of tax breaks from the BOI, while our new plant will apply under the innovative-industry strategy following the ‘Thailand 4.0’ policy, which may win tax incentives for up to 15 years,” Apiporn said.
Hiranya Suchinai, secretary-general of the BOI, said the agency would promote corporations investing in innovative products. If the company applies under the innovative-products category, it will get incentives from 10 to 15 years depending on the conditions.
“Siam Bioscience is the only Thai firm in the biopharma business,” she said.
Prayut said the government supported Thai firms producing innovative products especially medicines to serve local demand.
“At present, the government’s policy suggests that all state agencies buy local products amounting to at least 30 per cent of their total investment per year. “Ordering local medicines is one of the policies to support local producers if their products meet hospital standards,” he said.
Apiporn said the two plants would focus on both domestic and foreign markets. 
The company is supplying its products to Asean countries including Indonesia, Laos, Myanmar, Vietnam, Brunei and Cambodia. 
It also will apply for registration in Singapore and Malaysia next year.
“We also plan to export to Latin America from our joint venture with the Cuban firm,” he said.
The company targets 70 per cent of its sales revenue to come from exports within five years.
“Besides biopharma products for therapy, the company is also developing bio-cosmeceutical products to serve demand in the market,” he said.
“The launch will be in the middle of this year, aiming for sales up to Bt30 million by the end of this year.”
 

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